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 descending Title Type Related Rule / Topic
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 31, 2000 Interpretive Letter to Thomas E. Hellings, Securities America, Inc. Conduct Rules NASD Rule 2310 - Recommendations to Customers (Suitability)
Sep 27, 2000 Interpretive Letter to Kathleen A. Wieland, William Blair & Company Conduct Rules NASD Rule 2420 - Dealing with Non-Members
Sep 28, 2000 Interpretive Letter to Leslie U. Harris, East/West Securities Co. By-Laws Article IV, Section 2 - Similarity of Membership Names
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
Oct 12, 2000 Interpretive Letter to Eric A. Arnold, Esq., Sutherland Asbill & Brennan LLP Conduct Rules NASD Rule 2820 - Variable Contracts of an Insurance Company
Oct 16, 2000 Interpretive Letter to Justine Rusin, Merit Capital Associates, Inc. (Use of Negative Response Letters) Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
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
Nov 1, 2000 Interpretive Letter to Ms. Joanne Ferrari, Weeden & Co., L.P. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Nov 27, 2000 Interpretive Letter to Angela Coronado, Brecek & Young Advisors, Inc. Conduct Rules NASD Rule 3110 - Books and Records
Dec 11, 2000 Interpretive Letter to Brian C. Sullivan, LaBranche & Co. Membership and Registration Rules NASD Rule 1060 - Persons Exempt from Registration
Dec 22, 2000 Interpretive Letter to Barbara A. Mallon, Esq., Mallon & Johnson, P.C. Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Jan 16, 2001 Interpretive Letter to Stuart M. Strauss, Esq., Mayer, Brown & Platt Conduct Rules NASD Rule 2830 - Investment Company Securities
Jan 19, 2001 Interpretive Letter to Richard Bennett, Signal Securities, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Jan 23, 2001 Interpretive Letter to Isaac Schlesinger, Bishop, Rosen & Co., Inc. Conduct Rules NASD Rule 2440 - Fair Prices and Commissions
Jan 29, 2001 Interpretive Letter to Dennis Roth, Chesapeake Securities Research Corporation Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Feb 13, 2001 Interpretive Letter to George W. Mann, Jr., Boston Stock Exchange Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Mar 7, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2820 - Variable Contracts of an Insurance Company
Mar 7, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 2830 - Investment Company Securities
Mar 8, 2001 Interpretive Letter to Jay Adams Knight, Esq., Musick, Peeler & Garrett LLP Conduct Rules NASD Rule 2420 - Dealing with Non-Members
Mar 14, 2001 Interpretive Letter to Charles Wiegert, NFP Securities Conduct Rules NASD Rule 3060 - Influencing or Rewarding Employees of Others
Mar 18, 2001 Interpretive Letter to Klia Ververidis, Esq., AssetStream Corporation Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Apr 19, 2001 Interpretive Letter to Thomas W. Hands, TradePortal Securities, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Apr 27, 2001 Interpretive Letter to Name Not Public Conduct Rules NASD Rule 3370 - Prompt Receipt and Delivery of Securities

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