NASD Notice to Members 99-59 - July 1999

NASD Will no Longer Impose Censures for Some Violations

Executive Summary

On June 10, 1999, the National Adjudicatory Council (NAC) adopted a new policy that provides that censures will no longer be imposed for certain designated violations when the total monetary sanction is $5,000 or less, and when bars or suspensions are imposed. Members are directed to attach this Notice to Members as an amendment to their NASD Sanction Guidelines.

 

Questions concerning this new policy may be directed to Shannon Lane, Attorney, Office of General Counsel, NASD Regulation, Inc., at (202) 728-6904.