NASD Notice to Members 03-67 - October 2003

SEC Approves Proposed Changes to NASD Rules 3130 and 3131, Rule 9160, and the Rule 9410 Series; Effective Date: December 1, 2003

Executive Summary

On September 4, 2003, the Securities and Exchange Commission (SEC) approved amendments to NASD Rules 3130, 3131, 9160, and the Rule 9410 Series. The amended Rules 3130 and 3131 and Rule 9410 Series permit NASD to act on an expedited basis to place restrictions on the operations of any member when NASD's Department of Member Regulation (Member Regulation) has reason to believe that the member is experiencing financial or operational difficulties or suspend the operations of any member that is not in compliance with its applicable net capital requirements.

 

Questions concerning this Notice may be directed to Susan DeMando Director, Financial Operations, at (202) 728-8411.