NASD Notice to Members 07-32 - July 2007

NASD Amends Rule 3013 and Interpretive Material 3013 to Permit Members to Designate Co-Chief Executive Officers and Multiple Chief Compliance Officers; Compliance Date: July 16, 2007

Executive Summary

Effective July 16, 2007, NASD member firms may designate co-chief executive officers (co-CEOs) and multiple chief compliance officers (co-CCOs) to discharge the requirements of Rule 3013 (Annual Certification of Compliance and Supervisory Processes and accompanying IM-3013. The text of the rules, as amended, are set forth in Attachment A of this Notice.¹

Questions regarding this Notice may be directed to Philip Shaikun, Associate Vice President and Associate General Counsel, Office of General Counsel, at (202) 728-8451.

¹ NASD filed this amendment with the Securities and Exchange Commission for immediate effectiveness on July 16, 2007. See SR-NASD-2007-049. Pursuant to Section 19(b) of the Securities Exchange Act of 1934, the SEC has authority to summarily abrogate this type of rule change within 60 days of the filing.