NASD Notice to Members 99-77 - September 1999

NASD Regulation Modifies Default Decision Procedures

Executive Summary

The purpose of this Notice to Members is to give National Association of Securities Dealers, Inc. (NASD®) members notice that if members or persons associated with members fail to file an answer to a complaint or fail to make any other filing or request related to a complaint with the Office of Hearing Officers within the time required, or fail to appear at a hearing of which they have been duly notified, the allegations of the complaint may be treated as admitted, and a default decision against the members or associated persons entered by a Hearing Officer. The procedures described in this Notice to Members will apply to all complaints filed on or after October 1, 1999.

 

Questions concerning this Notice to Members should be directed to Shirley H. Weiss, Associate General Counsel, Office of General Counsel, NASD Regulation, Inc. (NASD Regulation®), at (202) 728-8844.