Advertising Regulation 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
May 12, 2015 Interpretive Letter to Edward P. Macdonald, Hartford Funds Distributors, LLC Conduct Rules FINRA Rule 2210 - Communications with the Public
Dec 1, 2014 Interpretive Letter to Wallace W. Kunzman, Jr., Kunzman & Bollinger, Inc. Membership and Registration Rules NASD Rule 1030 Series - Registration of Representatives
Apr 28, 2014 Interpretive Letter to Russell D. Sacks, Shearman & Sterling LLP Conduct Rules NASD Rule 2711 - Research Analysts and Research Reports
Apr 22, 2013 Interpretive Letter to Bradley J. Swenson, ALPS Distributors, Inc. Conduct Rules FINRA Rule 2210 - Communications with the Public
Feb 8, 2013 Interpretive Letter to Amy Natterson Kroll, Bingham McCutchen LLP Conduct Rules NASD Rule 2711 - Research Analysts and Research Reports
Jul 9, 2008 FINRA Office of General Counsel (Auction Rate Securities) Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Sep 28, 2007 Interpretive Letter to Dan Danborn, Society of Certified Senior Advisors Conduct Rules NASD Rule 2210 - Communications with the Public
Sep 6, 2007 Interpretive Letter to Tamara K. Salmon, Investment Company Institute Conduct Rules NASD Rule 2210 - Communications with the Public
Aug 15, 2006 NASD Office of General Counsel, Regulatory Policy and Oversight Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Aug 1, 2006 Interpretive Letter to Eileen Ryan, Esq., Securities Industry Association, and Sarah Starkweather, Esq., The Bond Market Association Conduct Rules NASD Rule 2210 - Communications with the Public
Aug 1, 2006 Interpretive Letter to Eileen Ryan, Esq., Securities Industry Association, and Sarah Starkweather, Esq., The Bond Market Association Conduct Rules NASD Rule 2211 - Institutional Sales Material and Correspondence
Jun 2, 2006 Interpretive Letter to Michael R. Trocchio, Esq., Bingham McCutchen LLP Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Feb 3, 2005 Interpretive Letter to Michael R. Trocchio, Esq., Bingham McCutchen LLP Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Nov 29, 2004 Interpretive Letter to Therese Squillacote, ING Financial Advisers, LLC Conduct Rules NASD Rule 2210 - Communications with the Public
Nov 10, 2004 Interpretive Letter to Michael R. Trocchio, Esq., Bingham McCutchen LLP Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Nov 8, 2004 NASD Office of General Counsel, Regulatory Policy and Oversight Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Oct 20, 2004 Interpretive Letter to Barry Harris, Banc of America Investment Services, Inc. (Use of Negative Response Letters) Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Sep 14, 2004 Interpretive Letter to Budge Collins, Collins/Bay Island Securities Conduct Rules NASD Rule 2210 - Communications with the Public
Aug 20, 2004 Interpretive Letter to Mark W. Riepe, Charles Schwab & Co., Inc. Conduct Rules NASD Rule 2711 - Research Analysts and Research Reports
Dec 30, 2003 Interpretive Letter to Yukako Kawata, Davis Polk & WardwellGeneral Letter Conduct Rules NASD Rule 2210 - Communications with the Public
Oct 2, 2003 Interpretive Letter to Michael D. Udoff, Securities Industry Association Conduct Rules NASD Rule 2210 - Communications with the Public
May 29, 2003 Interpretive Letter to Robert C. Hacker, Esq., Kirkpatrick & Lockhart, LLP Conduct Rules NASD Rule 2210 - Communications with the Public
May 1, 2003 Interpretive Letter to Michael D. Wolk, Esq., Foley and Lardner (Use of Negative Response Letters) Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Feb 3, 2003 Interpretive Letter to Doug Wright, The Investment Center, Inc. (Use of Negative Response Letters) Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade
Feb 3, 2003 Interpretive Letter to Marion A. Kashan, London Pacific Securities, Inc. (Use of Negative Response Letters) Conduct Rules NASD Rule 2110 - Standards of Commercial Honor and Principles of Trade

Pages