NASD Notice to Members 03-76 - December 2003

NASD Seeks Comment on Enhanced Access to NASD BrokerCheck (Formerly Known as NASD’s Public Disclosure Program); Access to Information Available Under Interpretive Material 8310-2; Comment Period Expires January 9, 2004

Executive Summary

Interpretive Material 8310-2 (IM-8310-2) governs the release of disciplinary and other information to the public through NASD BrokerCheck. In July 2002, NASD initiated a comprehensive review of the information that it makes public, including the information released under IM-8310-2. In November 2002, NASD requested comment on its public information review initiative in Notice to Members 02-74. Based on NASD’s review and member, investor, and other comments, the NASD Board of Governors (NASD Board), at its July 31, 2003 meeting, authorized proposed changes to IM-8310-2 that would broaden the scope of administrative and disclosure information NASD releases to the public. These proposed changes adopt a principled and consistent approach to disclosure and reflect NASD’s commitment to strike a fair balance between investor protection and the legitimate privacy interests of brokers. NASD has submitted a rule filing with the Securities and Exchange Commission (SEC) seeking approval of the proposed changes.

 

In connection with the proposed changes to IM-8310-2, and the overall objectives of the public information review that led to these changes, NASD is seeking comment on proposed enhancements to the existing approach for the electronic delivery of written reports (e-mail) used by the NASD BrokerCheck Program. These enhancements, which include a link to a secure written report, are intended to address investor needs and enhance the security and integrity of the program.

 

Questions concerning this Notice may be directed to Ann E. Bushey, Director, Registration and Disclosure, at (240) 386-4724; Richard E. Pullano, Associate Vice President/Chief Counsel, Registration and Disclosure, at (240) 386-4821; or Patricia M. Albrecht, Assistant General Counsel, at (202) 728-8026.

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The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments.


Comments By Date Received
Anonymous 12/8/2003
Raymond Gambel 12/17/2003
Raymond Gambel 12/18/2003
Farmers Financial Solutions, LLC 12/31/2003
Marshall Shichtman and Associates, P.C. 1/8/2004
Pace University (PDF 58 KB) 1/8/2004
NASAA (PDF 60 KB) 1/9/2004