Adoption of Interpretive Material Regarding Interfering with the Transfer of Customer Accounts

NASD Regulation, Inc., has filed with the SEC a proposed rule change expressly interpreting NASD Rule 2110 to prohibit members from interfering with a customer’s request to transfer his or her account in connection with the change in employment of the customer’s registered representative, provided that the account is not subject to any lien for monies owed by the customer or other bona fide claim.

TitleFormat - SizeStatus
Text of Proposed Rule ChangePDF - 42.78 KB
Approval OrderPDF - 42.94 KB