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 2, 2001 Interpretive Letter to Conrad C. Lysiak, Esq., Metropolitan Financial Center Procedural Rules NASD Rule 8300 Series - Sanctions
Oct 15, 2001 Interpretive Letter to Mark W. Bolle, Raymond James Financial Services, Inc. Uniform Practice Code NASD Rule 11200 Series
Feb 21, 1997 Interpretive Letter to Name Not Public Uniform Practice Code NASD Rule 11870 - Customer Account Transfer Contracts
Jun 9, 2010 Interpretive Letter to Merrie Faye Witkin, The Depository Trust & Clearing Corporation Uniform Practice Code NASD Rule 11190 - Reconfirmation and Pricing Service Participants
Dec 21, 2012 Interpretive Letter to Ira Hammerman, The Securities Industry and Financial Markets Association Uniform Practice Code FINRA Rule 11810 - Buy-In Procedures and Requirements
May 30, 2019 Interpretive letter to Jonathan D. Wiley, The Forbes Securities Group Capital Acquisition Broker Rules CAB Rule 016(c) – Capital Acquisition Broker