Transactions Involving Association and American Stock Exchange Employees

The NASD, through its wholly owned subsidiary, NASD Regulation, Inc., has filed with the SEC a proposed rule change to adopt NASD Rule 3090, to: (1) require NASD members to promptly obtain and implement a duplicate statement instruction whenever they have actual knowledge that an Association or American Stock Exchange employee has a financial interest in, or controls trading in, an account; (2) prohibit NASD members from making loans to Association or Amex employees except in the context of a routine banking or brokerage relationship, or when it is clear that a personal or family relationship motivates the loan; and (3) prohibit NASD members from giving business gifts or courtesies of more than nominal value to an Association or Amex employee who has responsibility for a specific regulatory matter (e.g., an examination, disciplinary proceeding, membership application, listing application, delisting proceeding, dispute-resolution proceeding) that involves the member.

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 35.49 KB
Approval OrderPDF - 125.65 KB