NASD Notice to Members 98-038 - May 1998

NASD Reminds Members of Supervisory and Inspection Obligations

Executive Summary

National Association of Securities Dealers, Inc., (NASD®) rules require that members supervise each of their associated persons, regardless of their location, compensation arrangement, or registration status. This Notice addresses firm obligations to supervise associated persons located in Offices of Supervisory Jurisdiction (OSJs), branch offices, and all other offices (referred to in this Notice as “unregistered offices”) and to inspect these offices. This Notice supersedes the guidance on inspections set forth in Notice to Members 86-65.