Proposed Rule Change Regarding Failure to Pay Arbitration Awards

NASD has filed with the SEC a proposed rule change to (1) amend Article V, Section 4 of the NASD By-Laws to permit NASD to suspend for failure to pay an arbitration award or settlement, for a period of two years after the award is entered, former associated persons who terminated their registration before the award was entered; and (2) amend Article VI, Section 3 of the NASD By-Laws to clarify that NASD may suspend the association, and not just the registration, of any person who fails to pay an arbitration award.

DateTitleFormat - SizeStatus
4/7/2003Text of Proposed Rule ChangePDF - 38.59 KB
3/5/2004Amendment No. 1 to Proposed Rule ChangePDF - 8.74 KB
5/7/2004Federal Register NoticePDF - 26.58 KB
6/17/2004Approval OrderPDF - 60.63 KB