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 Type Related Rule / Topicsort descending
Aug 29, 1997 Interpretive Letter to Lloyd H. Feller, Morgan, Lewis & Bockius Conduct Rules NASD IM-3310 - Manipulative and Deceptive Quotations
Jan 27, 1999 Interpretive Letter to Karin Wolman, Esq., Wilders & Weinberg, P.C. (Research Personnel) Membership and Registration Rules NASD Licensing In General
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
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
Nov 27, 1995 Interpretive Letter to Name Not Public Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Nov 1, 2000 Interpretive Letter to Ms. Joanne Ferrari, Weeden & Co., L.P. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Oct 2, 2000 Interpretive Letter to Allan H. Pessin, Securities Compliance Consultants Inc. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Jul 29, 2010 Interpretive Letter to Michael Brennan 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
Jan 29, 1998 Interpretive Letter to Francis X. Stone, Esq. Membership and Registration Rules NASD Rule 1020 Series - Registration of Principals
Feb 19, 1997 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
Sep 25, 2001 Interpretive Letter to David A. Genelly, Esq., Vanasco Genelly & MIller Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Jun 6, 2001 Interpretive Letter to Newton B. Schott, Jr., PIMCO Funds Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Apr 19, 2001 Interpretive Letter to Thomas W. Hands, TradePortal Securities, Inc. 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
Dec 1, 2014 Interpretive Letter to Wallace W. Kunzman, Jr., Kunzman & Bollinger, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Jan 29, 2001 Interpretive Letter to Dennis Roth, Chesapeake Securities Research Corporation Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Jan 19, 2001 Interpretive Letter to Richard Bennett, Signal Securities, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
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
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
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
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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