Microcap Initiative - Proposed Recommendation Rule

NASDR is filing with the SEC a proposed rule change to adopt new NASD Rule 2315, which requires members to review current issuer information prior to recommending a transaction to a customer in an over-the-counter ("OTC") equity security. Additionally, the proposed rule change would amend NASD Rule 6740 to permit members to submit a certification to the Association that states that the member has conducted a review of specified information and has fulfilled its SEC Rule 15c2-11 obligations for documents that currently reside on the SEC's Electronic Data Gathering and Retrieval System ("EDGAR") database.

*Excluding Exhibits 2-4

TitleFormat - SizeStatus
Text of proposed rule change*PDF - 128.32 KB
Federal Register NoticePDF - 43.23 KB
Extension LetterPDF - 2.13 KB
Extension No. 2PDF - 2.32 KB
Third Extension LetterPDF - 2.33 KB
Extension No. 4PDF - 2.31 KB
Extension No. 5PDF - 4.75 KB
Extension No. 6PDF - 4.76 KB
Extension No. 7PDF - 10.5 KB
Amendment No. 1 to Proposed Rule ChangePDF - 68.13 KB
Federal Register Notice of Filing of Amendment No. 1PDF - 60.2 KB
Eighth Extension LetterPDF - 7.67 KB
Amendment No. 2 to Proposed Rule ChangePDF - 8.22 KB
Approval OrderPDF - 49.53 KB
Correction to Approval OrderPDF - 19.25 KB