Regulatory Notice 08-36

SEC Approves Amendments to Expand the Scope of NASD Rule 2440 and IM-2440-1 to All Securities Transactions; Effective Date: June 13, 2008

Executive Summary

Effective June 13, 2008, the requirements in NASD Rule 2440 and IM-2440-1 relating to fair prices and commissions expressly apply to all securities transactions involving member firms and their customers, whether executed over-the-counter or on an exchange.  The text of Rule 2440 and IM-2440-1, as amended, is set forth in Attachment A of this Notice.

 

Questions regarding this Notice may be directed to the Legal Section, Market Regulation, at (240) 386-5126; or the Office of General Counsel at (202) 728-8071.

 

 

1 See Securities Exchange Act Release No. 57964 (June 13, 2008), 73 FR 35180 (June 20, 2008) (order approving SR-NASD-2006-005).