Notice to Members 00-26
NASD Regulation Reiterates Requirement That Members Correctly Report Order Audit Trail Information
The purpose of this Notice is to reiterate to members one of the requirements of the National Association of Securities Dealers, Inc. (NASD®) Rules 6950 through 6957 (Order Audit Trail System (OATSSM) Rules). When recording and reporting information on certain customer orders, members must indicate whether or not the customer provided instructions concerning the display or non-display of limit orders. It has come to the attention of NASD Regulation, Inc. (NASD RegulationSM) staff that several member firms consistently misreport this information to the NASD's OATS.
Questions regarding this Notice should be addressed to the OATS Support Center at (800) 321-NASD (6273); or the Legal Section of the Market Regulation Department at (301) 590-6410.