Letter from NASD Regulation President Mary L. Schapiro
Dear Member:
NASD Regulation, Inc., is pleased to announce the replacement of the current PC FOCUS application with a Web-based, Internet version (Web-Based FOCUS). After completion of a successful pilot program, Web-Based FOCUS will be available to the full membership for the September 1999 FOCUS filing.
Please note that the PC FOCUS application, which operates through Sprint, will not be available for the September filing. In this regard, it is imperative that you immediately forward this letter to the Financial & Operational Principal at your firm.
To prepare for filing your monthly, quarterly, or annual FOCUS filing through Web-Based FOCUS, you must complete the appropriate entitlement forms. This letter and forms are available at www.nasdr.com) and are being mailed to NASD members. Your firm's access to Web-Based FOCUS will not be operational until the entitlement forms are fully and accurately completed and submitted. Please take the following steps:
- Read and execute the "User Account Acknowledgment Form (UAAF)." The original document must be signed and returned to NASD Regulation via mail or courier. Faxed copies will not be accepted. The Web-Based FOCUS application utilizes the same entitlement functionality as the Web Central Registration Depository (CRDSM) system. In this regard, the form is a modified version of the form your firm completed to authorize Web CRD entitlement. If you wish, you may designate as your firm's Web-Based FOCUS Account Administrator the same individual you registered as your Web CRD Account Administrator.
- Complete and return the enclosed "Account Administrator Entitlement Form" so that specific privileges may be assigned to your firm's Account Administrator.
Please complete and submit the two referenced forms no later than August 31, 1999. If this deadline is missed, the setup of your Web-Based FOCUS accounts may be delayed. Once these forms are processed, a confirmation package will be sent to your firm's account administrator with user account and initial password information. For assistance in completing the entitlement forms, please call (800) 321-NASD.
System Highlights of Web-Based FOCUS
- Create and Submit FOCUS forms, Schedule I, Part II, and Part IIA.
- View a list of upcoming filing requirements that are due for your firm.
- Print FOCUS filings to your printer.
- Upload a FOCUS filing from your computer.
- Web-Based FOCUS will be accessible from any workstation running either Microsoft's Internet Explorer 4.01 SP2 or Netscape's browser version 4.05 or higher. There will be no need to install any software on your workstation.
- Utilizes the Secure Socket Layer (SSL) security built into your browser to protect your data.
- PIN numbers will no longer be required. However, users will have to be 'entitled' to access the application.
- Access is controlled using a user identification and password. Web-Based FOCUS uses the same security mechanisms as Web CRD. A single individual may have their identification authorized to access both the CRD and FOCUS systems.
- You will have access to all your historical filings online when you access the Web-Based FOCUS system.
- You may download your filings in existing PC FOCUS format over the Internet to meet your company's record retention needs and submit the filings to other agencies.
Additional Web-based form filing applications will be available to the membership next year for filings required pursuant to Conduct Rule 3070 (Customer Complaints and Disclosures), Rule 3360 (Short Interest Reporting), Regulation T Extensions, and Blue Sheet submissions. Questions regarding the new Web-Based FOCUS product may be directed to: (800) 321-NASD.
We look forward to working with you to make the implementation of this new system as easy as possible.
Best Wishes,
Mary L. Schapiro
President
Attachment:
