NASD Notice to Members 98-067 - August 1998

SEC Approves Amendment to Rule on Fidelity Bonding Requirements; Effective September 15, 1998

Executive Summary

On July 14, 1998, the Securities and Exchange Commission (SEC) approved an amendment to the National Association of Securities Dealers, Inc. (NASD®) Rule 3020 (the Rule) governing member fidelity bonding requirements. The amendment grants authority to NASD staff to adjust a member’s fidelity bonding requirement under certain circumstances. The amendment will take effect on September 15, 1998.