NASD Notice to Members 07-25 - May 2007

NASD Provides Guidance Concerning Trade Reporting Obligations for Transactions in Foreign Securities and American Depositary Receipts

Executive Summary

NASD is publishing this Notice to provide members with guidance on trade reporting issues involving transactions in foreign securities and American Depositary Receipts (ADRs). NASD is announcing that, on April 20, 2007, NASD filed a rule change with the Securities and Exchange Commission (SEC) for immediate effectiveness to codify existing NASD guidance regarding members’ trade reporting obligations for transactions in foreign equity securities.1 NASD is also publishing this Notice to provide guidance to members concerning their trade reporting obligations with respect to certain transactions involving ADRs.

 

The new rule language is available in Attachment A of this Notice.

 

1 See Securities Exchange Act Release No. 55745 (May 11, 2007), 72 FR 27891 (May 17, 2007) (SR-NASD-2007-030).