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.

Datesort ascending Title Type Related Rule / Topic
Aug 31, 2000 Interpretive Letter to Thomas E. Hellings, Securities America, Inc. Conduct Rules NASD Rule 2310 - Recommendations to Customers (Suitability)
Aug 14, 2000 Interpretive Letter to Mr. Edward Balsmann, Morgan Keegan & Company, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Aug 14, 2000 Interpretive Letter to Ms. M. LaRae Bakerink, Pacific American Securities, LLC Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Aug 11, 2000 Interpretive Letter to David M. Rappaport, Esq., INVESTACORP Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Aug 4, 2000 Interpretive Letter to Alan Feldstein, Esq., Development Corporation for Israel Conduct Rules NASD Rule 3110 - Books and Records
Jul 24, 2000 Interpretive Letter to Fiona Kaufman, Esq., SVB Securities, Inc. Conduct Rules NASD Rule 3110 - Books and Records
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
Jul 19, 2000 Interpretive Letter to Joanne Ferrari, Weeden & Co., L.P. Membership and Registration Rules NASD Rule 1040 Series - Assistant Representative - Order Processing
Jul 5, 2000 Interpretive Letter to Kathleen A. Wieland, William Blair & Company, L.L.C. Conduct Rules NASD Rule 2210 - Communications with the Public
Jun 20, 2000 Interpretive Letter to Robinson Markel, Esq., Rosenman & Colin, LLP Conduct Rules NASD Rule 3370 - Prompt Receipt and Delivery of Securities
Jun 15, 2000 Interpretive Letter to Steven F. Gatti, Esq., Clifford, Chance, Rogers & Wells Conduct Rules NASD Rule 3110 - Books and Records
May 31, 2000 Interpretive Letter to Michael R. Miller, Esq., Kunkel Miller & Hament Conduct Rules NASD Rule 2420 - Dealing with Non-Members
May 1, 2000 Interpretive Letter to Leonard Mayer, Schwab Capital Markets, L.P. Conduct Rules NASD Rule 2220 - Options Communications with the Public
May 1, 2000 Interpretive Letter to Leonard Mayer, Schwab Capital Markets, L.P. Conduct Rules NASD Rule 2320 - Best Execution and Interpositioning
Apr 3, 2000 Interpretive Letter to Michael L. Kerley, Esq., MML Investors Services, Inc. Conduct Rules NASD Rule 2820 - Variable Contracts of an Insurance Company
Jan 21, 2000 Interpretive Letter to Peter D. Koffler, Esq., Twenty-First Securities Corporation Conduct Rules NASD IM-2420-2 - Continuing Commissions Policy
Jan 18, 2000 Interpretive Letter to Gordon C. Ogden, III, Profinancial, Inc. Conduct Rules NASD Rule 2420 - Dealing with Non-Members
Jan 18, 2000 Interpretive Letter to Michael T. Dorsey, Knight Securities, L.P. Conduct Rules NASD Rule 3370 - Prompt Receipt and Delivery of Securities
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 23, 1999 Interpretive Letter to R. Bruce Hughes, Access Mortgage Services, Inc. Conduct Rules NASD Rule 3030 - Outside Business Activities of an Association Person
Dec 17, 1999 Interpretive Letter to Yoon-Young Lee, Wilmer, Cutler & Pickering Conduct Rules NASD Rule 3010 - Supervision
Dec 17, 1999 Interpretive Letter to Yoon-Young Lee, Wilmer, Cutler & Pickering Conduct Rules NASD Rule 2210 - Communications with the Public
Dec 17, 1999 Interpretive Letter to Merrill E. Weber, Red Oak Financial Corporation Marketplace Rules NASD Rule 6500 Series - OTC Bulletin Board Service
Nov 18, 1999 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2830 - Investment Company Securities
Nov 11, 1999 Interpretive Letter to Andrew Gotfried, Raymond James Financial Services Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives

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