NASD Notice to Members 06-16 - April 2006

NASD Amends Rule 1013 to Adopt a Standardized Application Form (Form NMA) to be Used by All New Member Applicants; Implementation Date: May 20, 2006

Executive Summary

NASD is issuing this Notice to inform members and applicants for membership that NASD has amended Rule 1013 (New Member Application and Interview) to adopt a standardized application form, Form NMA, to be used by all new applicants applying for membership to NASD. NASD has also made several technical changes to Rule 1013 and Rule 1014 (Department Decision). The proposed rule changes, which were filed with the Securities and Exchange Commission (SEC), became effective upon filing.1 The implementation date of the amendment, which is also the date on which applicants must begin using Form NMA to apply for NASD membership, is May 20, 2006. Attachment A contains the text of the amendment. Attachment B contains a sample Form NMA

 

Questions regarding this Notice may be directed to Karin Marshall, Membership Manager, Regulation Policy, NASD Department of Member Regulation, at (202) 728-6954.

 

1 See Exchange Act Release No. xxxx (Date); xx F.R. xx (Date) (SR-NASD-2006-038). Under Section 19(b) of the Securities Exchange Act of 1934, the SEC has the authority to summarily abrogate this type of rule change within 60 days of filing.