SR-NASD-2004-165

Proposed Rule Change Relating to NASD Rule 2790

NASD has filed with the SEC a proposed rule change to amend subparagraph (i)(9) of Rule 2790 to exclude from the definition of "new issue" securities offerings of a business development company ("BDC"), a direct participation program ("DPP"), and a real estate investment trust ("REIT").

Text of Proposed Rule Change (PDF 131 KB)
Amendment No. 1 to Proposed Rule Change (PDF 28 KB)
Amendment No. 2 to Proposed Rule Change (PDF 23 KB)
Federal Register Notice (PDF 71 KB)
Response to Comments (PDF 26 KB)
Approval Order (PDF 57 KB)
Correction to Approval Order (PDF 48 KB)