NASD Notice to Members 03-08 - February 2003

NASD Clarifies the Application of Short Interest Reporting Rule

Executive Summary

On January 10, 2003, the Securities and Exchange Commission (SEC) issued an order announcing the immediate effectiveness of amendments to NASD Rule 3360 (Rule 3360 or the Rule) that clarify that short sale positions held by members for other broker/dealers must be reported under Rule 3360(a), unless these positions already are reported to a self-regulatory organization (SRO).

 

Questions regarding this Notice may be directed to the NASD Office of General Counsel, Regulatory Policy and Oversight, at 202-728-8071, or Jocelyn Rena, Market Regulation Department, at 240-386-5091.