NASD Notice to Members 99-81 - September 1999

NASD Regulation Requests Comment on Proposed Salesperson Compensation Rules; Comment Period Expires October 29, 1999

Executive Summary

NASD Regulation, Inc. (NASD Regulation®) requests comment from National Association of Securities Dealers, Inc. (NASD®) members, investors, and other interested parties on the following three rule proposals which relate to salesperson compensation: (1) a rule prohibiting the payment of higher payout ratios to salespersons for the sale of proprietary investment company products; (2) a rule prohibiting single security sales contests; and (3) a rule requiring disclosure of accelerated payout arrangements for salespersons who change firms.

 

Questions concerning this Notice to Members—Request for Comments may be directed to Louise Corso, Assistant General Counsel, Office of General Counsel, NASD Regulation, at (202) 728-6939; or Stephanie M. Dumont, Assistant General Counsel, Office of General Counsel, NASD Regulation, at (202) 728-8176.