NASD Notice to Members 07-20 - May 2007

NASD Amends Rules 1012 and 1013 to Require Applicants for Membership to Submit Applications Using Online Form NMA; Implementation Date: May 7, 2007; Compliance Date: May 31, 2007

Executive Summary

NASD is issuing this Notice to inform members and applicants for membership of amendments to Rules 1012 (General Provisions) and 1013 (New Member Application and Interview) to require that applicants submit Form NMA electronically.

The rule change, which was filed with the Securities and Exchange Commission (SEC), became effective upon filing.1 The implementation date of the amendment and the date upon which applicants may begin using the online Form NMA to apply for NASD membership is May 7, 2007. All applicants must begin using the online Form NMA by May 31, 2007.

Questions regarding this Notice may be directed to J. Barron Knight, Special Counsel, Office of Regulation Policy, NASD Department of Member Regulation, at (202) 728-8070.

1 See Securities Exchange Act Release No. 55412 (March 7, 2007), 72 FR 11414 (March 13, 2007) (SR-NASD-2007-015).