SR-NASD-2003-145

Proposed Rule Change To Give Authority to NASD’s Market Regulation Committee To Review Alternative Display Facility System Outage and Denial of Excused Withdrawal Determinations

NASD has filed with the SEC a proposed rule change to amend Rules 4300A and 4619A(g) to give jurisdiction to NASD’s Market Regulation Committee to review system outage determinations under Rule 4300A(f) and excused withdrawal denials under Rule 4619A, respectively. The proposed rule change would apply during the time that the NASD Alternative Display Facility operates on a pilot basis.