NASD Notice to Members 06-34 - July 2006

Technical Changes in the Reporting of Statistical and Summary Information Regarding Customer Complaints and Disclosure Events pursuant to Rule 3070

Executive Summary

NASD Rule 3070(c) requires members to report to NASD statistical and summary information regarding customer complaints by the 15th calendar day of the month following the calendar quarter's end (e.g., by April 15 for the first quarter) in which customer complaints are received by the member. The information reported by members provides NASD with important regulatory information that assists with the timely identification of potential sales practice and operational problems.

 

Questions regarding technical requirements may be directed to NASD’s Gateway Call Center at (800) 321-NASD. Other questions regarding these changes and Rule 3070 may be directed to David Troutner at (202) 728-8069.

 

This NTM has been revised to reflect an extension of the effective date to December 15, 2006, and to correct certain non-substantive text.