Notice to Members 02-34
SEC Approves Proposed Changes to Rule 3070 Concerning the Reporting of Criminal Offenses by Members and Persons Associated with Members
On May 15, 2002, the Securities and Exchange Commission (SEC) approved amendments to NASD Rule 3070, concerning the reporting of criminal offenses by members and persons associated with members. Effective July 15, 2002, these amendments will require the reporting of the following criminal offenses under Rule 3070(a)(5): any felony; misdemeanors involving the purchase or sale of any security, the taking of a false oath, the making of a false report, bribery, perjury, burglary, larceny, theft, robbery, extortion, forgery, counterfeiting, fraudulent concealment, embezzlement, fraudulent conversion, misappropriation of funds or securities; a conspiracy to commit any of these offenses; or substantially equivalent activity in a domestic, military, or foreign court.
The text of the amendment to Rule 3070 as provided in Attachment A becomes effective on July 15, 2002.
Questions concerning this Notice may be directed to Emily Gordy, Director, Regulation Policy, at (202) 728-8070, or Shirley H. Weiss, Associate General Counsel, at (202) 728-8844