Comments on NASD Notice to Members 05-25

Barbara Z. Sweeney

Office of Corporate Secretary



Dear Ms. Sweeney:


The concern I have related to the proposed rule on new product sales material and television, video and radio advertisements is that the NASD's Advertising Department staff currently takes approximately four to six months to issue a review letter on material submitted.  My fear is that with the influx of all the television, video and radio advertisements required to be submitted that your advertising staff will become even more taxed and that their response time will lengthen. 


Additionally, does the NASD plan to increase the filing fees for television, video and radio advertisements?  Will a 15 second radio spot cost the same as a 25 minute television infomercial to review?


I would like to see the NASD's plan to address the staffing concern prior to implementation/approval of this rule and publish any proposed amendment to filing fees.


Thank you,


The Investment Center, Inc.


Doug Wright