Notice to Members 97-60
SEC Approves New Procedures for Granting Exemptions to NASD Rules
On August 7, 1997, the Securities and Exchange Commission (SEC) approved amendments to the National Association of Securities Dealers, Inc. (NASD®) Code of Procedure setting forth, among other things, general procedures for members to apply for exemptions under various rules and conforming changes to provide exemptive authority for particular rules. The new rules supersedeprior procedures, which vested authority for granting exemptions in various standing committees of the NASD.
Questions concerning this Notice may be irected to Alden S. Adkins,General Counsel, Office of General Counsel, NASD Regulation, Inc., at (202) 728-8332; Mary Dunbar,Assistant General Counsel, Office of General Counsel, NASD RegulationSM, at (202) 728-8252; and Robert J. Smith, Senior Attorney, Office of General Counsel, NASD Regulation, at (202) 728-8176.