SR-NASD-2001-013

Amendments to the By-Law Definitions of Broker and Dealer

NASD Regulation, Inc., has filed with the SEC a proposed rule change to amend the definitions of "broker" and "dealer" in the By-Laws of NASD Regulation to conform to the definitions of "broker" and "dealer" in the Act. Under the proposed rule change, the definitions of "broker" and "dealer" in the NASD Regulation By-Laws would incorporate by reference the definitions of these terms as set forth in Sections 3(a)(4) and 3(a)(5), respectively, of the Act. NASD Regulation is proposing to amend the definitions of "broker" and "dealer" in its By-Laws in anticipation of changes being made to the Act's definitions of these terms pursuant to the Gramm-Leach-Bliley Act of 1999.