Notice to Members 97-11

NASD Regulation Requests Comment on Proposed Rule Restricting Payment of Referral Fees by NASD Members

Comment Period Expired April 30, 1997

In the following document, NASD Regulation, Inc. (NASD RegulationSM) requests comment on new NASD® Rule 2460 that would restrict the payment of “finders” or referral fees by NASD members to unregistered third parties for the referral of retail business.

Questions concerning this  Request For Comment should be directed to R. Clark Hooper, Senior Vice President, Office of Disclosure and Investor Protection, NASD Regulation, at (202) 728-8325; or Mary N. Revell, Assistant General Counsel, Office of General Counsel, NASD Regulation, at (202) 728-8203.