SR-NASD-2004-141

Amendments to NASD Rule 2711 to Prohibit Participation by Research Analysts in Road Shows

NASD has filed with the SEC a proposed rule change to amend NASD Rule 2711 to prohibit (1) a research analyst from participating in a road show related to an investment banking services transaction and from engaging in any communication with a current or prospective customer in the presence of investment banking department personnel or company management about an investment banking services transaction and (2) investment banking department personnel from directing a research analyst to engage in such sales and marketing efforts and other communications with a customer about an investment banking services transaction.