NASD Notice to Members 05-07 - January 2005

SEC Approves Amendments to Rule 2212 Concerning Frequency of Updates From the National Do-Not-Call Registry; Effective Date: March 1, 2005

Executive Summary

On January 11, 2005, the Securities and Exchange Commission (SEC) approved amendments to NASD Rule 2212, NASD’s telemarketing sales rule.1 A member that seeks to qualify for the safe harbor set forth in Rule 2212 now will be required to, among other things, use a process to prevent telephone solicitations to any telephone number in a version of the national do-not-call registry obtained from the administrator of the registry no more than thirty-one (31) days prior to the date any call is made. This amendment is consistent with recent amendments to the comparable do-not-call rules of the Federal Trade Commission (FTC) and the Federal Communications Commission (FCC).

 

Questions concerning this Notice may be directed to Gary L. Goldsholle, Associate Vice President and Associate General Counsel, Office of General Counsel (OGC), Regulatory Policy and Oversight (RPO), at (202) 728-8104; or James L. Eastman, Assistant General Counsel, OGC, RPO, at (202) 728-6961.