NASD Notice to Members 01-53 - August 2001

Procedures Governing the Review and Approval of Subordination Agreements Filed With the NASD

Executive Summary

On April 26, 2001, NASD Regulation, Inc. (NASD Regulation^SM) staff reported to the Board of Directors that it would: (1) discontinue publishing the "Procedures Governing the Review and Approval of Subordination Agreements filed with the Association" ("Procedures") in the NASD Manual (following Appendix D to Rule 15c3-1 under the Securities Exchange Act of 1934) and, instead, publish the Procedures in hard copy as part of the instructions for subordination agreements; and (2) change the 30/10-day time frames previously contained in the Procedures from a requirement to a guideline.

 

Questions concerning this Notice may be directed to Susan DeMando, Director, Financial Operations, Member Regulation, NASD Regulation, Inc., at (202) 728- 8411; or Shirley H. Weiss, Associate General Counsel, Office of General Counsel, NASD Regulation, at (202) 728-8844.