Interpretive Letters

All interpretive positions are staff position, unless otherwise indicated. Staff-issued interpretive letters express staff views and opinions only and are not binding on FINRA and its Board; any representation to the contrary is expressly disclaimed.

The letters provide general guidance on the staff's views as to the application of particular NASD rules under specific circumstance.

Members, associated persons, and their counsel should consider seeking further guidance regarding their own unique circumstances.

Date Title Typesort descending Related Rule / Topic
Aug 11, 2000 Interpretive Letter to David M. Rappaport, Esq., INVESTACORP Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Feb 4, 1998 Interpretive Letter to Larry M. Kohn, L.M. Kohn & Company (Series 63 and Commission Overrides) Membership and Registration Rules NASD Licensing In General
Jul 19, 2000 Interpretive Letter to Stephen M. Vine, Esq., Akin, Gump, Strauss, Hauer & Feld, L.L.P. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Nov 1, 2000 Interpretive Letter to Ms. Joanne Ferrari, Weeden & Co., L.P. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Dec 23, 1999 Interpretive Letter to Karen A. Steighner, Brokerage Administrators Corporation (includes attached incoming letter) Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Dec 1, 2014 Interpretive Letter to Wallace W. Kunzman, Jr., Kunzman & Bollinger, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Oct 2, 2000 Interpretive Letter to Allan H. Pessin, Securities Compliance Consultants Inc. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Oct 2, 2000 Interpretive Letter to Janna R. Severance, Esq., Moss & Barnett Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Aug 5, 2004 Interpretive Letter to Mr. Alan E. Sorcher, Securities Industry Association & Ms. Sarah A. Miller, ABA Securities Association Membership and Registration Rules NASD Rule 1070 - Qualification Examinations and Waiver of Requirements
Nov 11, 1999 Interpretive Letter to Andrew Gotfried, Raymond James Financial Services Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Jan 29, 1998 Interpretive Letter to Francis X. Stone, Esq. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Jul 19, 2000 Interpretive Letter to Joanne Ferrari, Weeden & Co., L.P. Membership and Registration Rules NASD Rule 1040 Series - Assistant Representative - Order Processing
Feb 24, 2016 Interpretive Letter to Marc Menchel, Menchel Consulting LLC Membership and Registration Rules NASD Rule 1017 - Application for Approval of Change in Ownership, Control, or Business Operations
Feb 19, 1997 Interpretive Letter to Name Not Public Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
May 27, 1998 Interpretive Letter to Therese Haberle, Charles Schwab Membership and Registration Rules NASD Rule 1040 Series - Assistant Representative - Order Processing
Nov 27, 1995 Interpretive Letter to Name Not Public Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Sep 27, 2001 Interpretive Letter to Elliott R. Curzon, Esq., Dechert Price & Rhoads Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Dec 12, 2005 Interpretive Letter to Mr. Alan E. Sorcher, Securities Industry Association & Ms. Sarah A. Miller, ABA Securities Association Membership and Registration Rules NASD Rule 1070 - Qualification Examinations and Waiver of Requirements
Dec 11, 2000 Interpretive Letter to Brian C. Sullivan, LaBranche & Co. Membership and Registration Rules NASD Rule 1060 - Persons Exempt from Registration
Sep 25, 2001 Interpretive Letter to David A. Genelly, Esq., Vanasco Genelly & MIller Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Sep 6, 2001 Interpretive Letter to Mr. Alan E. Sorcher, Securities Industry Association & Ms. Sarah A. Miller, ABA Securities Association Membership and Registration Rules NASD Rule 1070 - Qualification Examinations and Waiver of Requirements
Jun 6, 2001 Interpretive Letter to Newton B. Schott, Jr., PIMCO Funds Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Jul 29, 2010 Interpretive Letter to Michael Brennan Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Oct 27, 2000 Interpretive Letter to Mr. Alan E. Sorcher, Securities Industry Association & Ms. Sarah A. Miller, ABA Securities Association Membership and Registration Rules NASD Rule 1070 - Qualification Examinations and Waiver of Requirements
Aug 2, 2001 Interpretive Letter to Conrad C. Lysiak, Esq., Metropolitan Financial Center Procedural Rules NASD Rule 8300 Series - Sanctions

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