NASD Notice to Members 05-25 - April 2005

NASD Requests Comment on Proposal to Require Pre-Use Filing of Advertisements and Sales Literature for New Types of Securities and of Television, Video and Radio Advertisements; Comment Period Expired May 20, 2005

Executive Summary

NASD is proposing to amend its advertising rules to require members to file certain additional categories of advertisements and sales literature with NASD. First, NASD is proposing to require members to file the initial advertisement or item of sales literature concerning a type of security that the member has not previously offered at least 10 business days prior to first use or publication (and continue to do so for the following 90 calendar days). Second, NASD is proposing to require members to file all television, video (including Web site video), radio, or similar broadcasts of 15 seconds or longer at least 10 business days prior to the date of first use or broadcast.


Questions concerning this Notice may be directed to Thomas M. Selman, Senior Vice President, Investment Companies/Corporate Financing, at (240) 386-4533; Joseph P. Savage, Associate Vice President, Investment Companies Regulation, at (240) 386-4534; or Philip A. Shaikun, Associate General Counsel, Office of General Counsel, Regulatory Policy and Oversight, at (202) 728-8451.

View Full Notice PDF 46 KB

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
Ameritas Life Insurance Corp. (PDF 32 KB) 4/8/2005
MWA Financial Services, Inc. (PDF 59 KB) 4/11/2005
Frank Dealy (PDF 28 KB) 4/21/2005
The Investment Center, Inc. (PDF 30 KB) 4/21/2005
Northwest Consulting, LLC (PDF 29 KB) 5/4/2005
Mutual Trust Co. Of America Securities (PDF 31 KB) 5/5/2005
Blakeslee & Blakeslee (PDF 17 KB) 5/5/2005
A.B. Goodman Law Firm, Ltd. (PDF 26 KB) 5/11/2005
Dortch Securities & Investments, Inc. (PDF 26 KB) 5/12/2005
Mutual Trust Co. Of America Securities (PDF 30 KB) 5/13/2005
Piper Jaffray (PDF 33 KB) 5/16/2005
Carty & Company, Inc. (PDF 30 KB) 5/17/2005
Barclays Global Investors (PDF 30 KB) 5/18/2005
Cutter & Company, Inc. (PDF 31 KB) 5/19/2005
NISC (PDF 16 KB) 5/19/2005
Pace Investor Rights Project (PDF 57 KB) 5/19/2005
Ropes & Gray (PDF 97 KB) 5/19/2005
AIG Advisor Group (PDF 45 KB) 5/19/2005
Jefferson Pilot Securities Corporation (PDF KB) 5/20/2005
NFP Securities, Inc. (PDF 35 KB) 5/20/2005
NFP Securities, Inc. (PDF 38 KB) 5/20/2005
Harrisdirect LLC (PDF 510 KB) 5/20/2005
Wachovia Securities (PDF 74 KB) 5/20/2005
National Planning Holding, Inc. (PDF 112 KB) 5/20/2005
Fidelity Investments (PDF 236 KB) 5/20/2005
OppenheimerFunds Distributor, Inc. (PDF 87 KB) 5/20/2005
Financial Services Institute (PDF 70 KB) 5/20/2005
Edward D. Jones & Co. (PDF 196 KB) 5/20/2005
AG Edwards & Sons, Inc. (PDF 202 KB) 5/20/2005
Investment Company Institute (PDF 117 KB) 5/20/2005
Wulff, Hansen & Co. (PDF 50 KB) 5/20/2005
ING Advisors Network (PDF 38 KB) 5/20/2005
E*TRADE Financial (PDF 85 KB) 5/20/2005
Scottrade (PDF 391 KB) 5/23/2005
Charles Schwab & Co., Inc. (PDF 71 KB) 5/24/2005
Merrill Lynch (PDF 32 KB) 5/25/2005
Ameritrade Holding Corporation (PDF 62 KB) 5/26/2005
Securities Industry Association (PDF 73 KB) 5/27/2005
Smith Barney (PDF 46 KB) 5/31/2005