NASD Notice to Members 04-59 - August 2004

SEC Announces Immediate Effectiveness of Amendments to the Rule 9600 Series Establishing Waiver Subcommittee of the National Adjudicatory Council; Effective Date: September 1, 2004

Executive Summary

On July 27, 2004, the Securities and Exchange Commission (SEC) announced the immediate effectiveness of amendments to the Rule 9600 Series (Procedures for Exemptions) establishing a Waiver Subcommittee of the National Adjudicatory Council (NAC). Effective September 1, 2004, the Waiver Subcommittee, rather than the full NAC, will have the authority to affirm, modify, or reverse a decision of NASD's Department of Member Regulation (Member Regulation) denying a request for a waiver from a required qualifications examination pursuant to NASD Rule 1070.

 

Questions concerning this Notice may be directed to Shirley H. Weiss, Associate General Counsel, Office of General Counsel, Regulatory Policy and Oversight, at (202) 728-8844.