NASD Notice to Members 99-69 - August 1999

NASD Regulation Requests Comment on Proposed Trading Halt Rules; Comment Period Expires September 30, 1999

Executive Summary

As part of the effort to address abuses in the trading and sales of thinly traded, thinly capitalized (microcap) securities and to increase investor protection in the trading of over-the-counter (OTC) securities, this Notice requests comment on a rule proposal that would authorize NASD Regulation, Inc. (NASD Regulation®) to halt quotations and trading in OTC securities under certain circumstances. For purposes of this rule, OTC securities include securities that are not listed on an exchange or on The Nasdaq Stock Market, Inc. (Nasdaq®) and securities that are not quoted on the OTC Bulletin Board® (OTCBB).

 

Questions concerning this Notice to Members—Request for Comment may be directed to Mary Revell, Associate General Counsel, NASD Regulation, at (202) 728-8203.