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 Titlesort descending Type Related Rule / Topic
Dec 16, 1996 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3040 - Private Securities Transactions of an Associated Person
Mar 7, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2820 - Variable Contracts of an Insurance Company
Jul 23, 1996 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3040 - Private Securities Transactions of an Associated Person
Sep 27, 1994 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3040 - Private Securities Transactions of an Associated Person
Aug 5, 1994 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3040 - Private Securities Transactions of an Associated Person
Feb 19, 1997 Interpretive Letter to Name Not Public Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
May 25, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3370 - Prompt Receipt and Delivery of Securities
Nov 27, 1995 Interpretive Letter to Name Not Public Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Apr 27, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3370 - Prompt Receipt and Delivery of Securities
Jan 2, 2002 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3070 - Reporting Requirements
May 28, 1996 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3070 - Reporting Requirements
May 28, 1996 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3070 - Reporting Requirements
Sep 18, 1996 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3370 - Prompt Receipt and Delivery of Securities
Apr 11, 1997 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2420 - Dealing with Non-Members
Jul 23, 1999 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3230 - Clearing Agreements
Mar 7, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2830 - Investment Company Securities
Nov 18, 1999 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2830 - Investment Company Securities
Jul 17, 1998 Interpretive Letter to Name Not Public Marketplace Rules NASD Rules 6950-6957 (OATS)
May 25, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD IM-2420-2 - Continuing Commissions Policy
Feb 17, 1999 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2860 - Options
Feb 24, 1993 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2860 - Options
Nov 26, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3010 - Supervision
Oct 31, 1995 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3110 - Books and Records
Dec 23, 1996 Interpretive Letter to Name Not Public Conduct Rules NASD IM-2420-2 - Continuing Commissions Policy
Feb 21, 1997 Interpretive Letter to Name Not Public Uniform Practice Code NASD Rule 11870 - Customer Account Transfer Contracts

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