NASD Notice to Members 05-45 - June 2005

Agency Securities Lending Disclosure Initiative

Executive Summary

This Notice advises broker-dealers engaged in the business of agency securities lending that the Agency Lending Disclosure Taskforce (Industry Taskforce), composed of, among others, representatives of the securities industry, regulators, and the Depository Trust &Clearing Corporation (DTCC), has recommended, through its Agency Lending Disclosure Initiative, certain uniform processes and a proposed calendar of milestones, to help broker-dealers engaged in agency securities lending activities comply with existing rule requirements relating to books and records, net capital requirements, and internal and supervisory controls.

 

Questions concerning this Notice may be directed to Richard Jardine, Financial Analyst, Department of Member Regulation, at (202) 728-6937; or Susan M. DeMando, Associate Vice President, Financial Operations, Department of Member Regulation, at (202) 728-8411.