Notice to Members 00-51
SEC Approves Proposed Rule Change Relating to Margin for Exempted Borrowers, Good Faith Accounts, Joint Back Office Arrangements, Control and Restricted Securities, and Options Transactions
On May 30, 2000, the Securities and Exchange Commission (SEC) approved amendments to National Association of Securities Dealers, Inc. (NASD®) Rule 2520 relating to margin requirements for exempted borrowers, good faith accounts, joint back office (JBO) arrangements, control and restricted securities, and options transactions. The amendments become effective on August 21, 2000. There is a six-month phase-in period for the implementation of the amendments relating to JBO arrangements.
Questions concerning this Notice may be directed to Susan DeMando, Director, Financial Operations, Member Regulation, NASD Regulation, Inc. (NASD RegulationSM) at (202) 728-8411; or Stephanie M. Dumont, Assistant General Counsel, Office of General Counsel, NASD Regulation, at (202) 728-8176.