NASD Notice to Members 99-53 - July 1999

NASD Regulation Offers Guidance to Members Forwarding Mini Tender Offers to Their Customers

Executive Summary

Recent press coverage of "mini tender offers" has highlighted a practice that may be generating significant confusion among National Association of Securities Dealers, Inc. (NASD®) members and public customers, and may result in monetary losses to customers. NASD Regulation, Inc. (NASD Regulation®) is publishing this Notice to alert members to the practice and to discuss the steps members can take to reduce the risk that customers and others tendering shares in a mini tender offer will be victimized.

 

Questions regarding this Notice may be directed to Elliott Curzon, Assistant General Counsel, Office of General Counsel, NASD Regulation, at (202) 728- 8451.