NASD Notice to Members 98-059 - July 1998

SEC Approves Amendments To NASD Rule 1120 (Continuing Education Requirements)

Executive Summary

The Securities and Exchange Commission (SEC) recently approved amendments to National Association of Securities Dealers, Inc. (NASD®) Rule 1120 relating to Continuing Education requirements (see SEC Release No. 34-39712, dated March 3, 1998, and File No. SR-NASD-98-03). The text of amended Rule 1120 is included in this Notice. The rule changes are effective as of July 1, 1998.

 

Correction - On page 428, the second paragraph under subhead New Program For Principals should read:
For purposes of NASD rules, the following registrations will be included in the principal category: Series 4 (Registered Options Principal); Series 8 (General Securities Sales Supervisor); Series 24 (General Securities Principal); Series 26 (Investment Company Products/Variable Contracts Limited Principal); Series 27 (Financial and Operations Principal); Series 28 (Introducing Broker-Dealer Financial and Operational Principal); Series 39 (Direct Participation Programs Principal); Series 53 (Municipal Securities Principal Qualification); and the Government Securities Principal (no series number).