SR-NASD-2006-052

Rule Change to Revise the Effective Date of Certain Amendments to NASD's Order Audit Trail System Rules

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to establish July 10, 2006 as the effective date of the amendments to NASD's Order Audit Trail System (OATS) rules approved by the Commission on September 28, 2005 and March 30, 2006.