SR-NASD-2003-055

Proposed Amendments to Article VIII (District Committees and District Nominating Committees) of the By-Laws of NASD Regulation, Inc.

NASD has filed with the SEC a proposed rule change to amend Article VIII (District Committees and District Nominating Committees) of the By-Laws of NASD Regulation, Inc. to streamline the nomination and election processes governing District Committees and District Nominating Committees, modernize communication procedures, and improve the consistency among the Committees across all districts. In addition, NASD is proposing technical revisions to Article VIII to replace references to "the Association" with "NASD."