SR-NASD-2005-084

Proposed Rule Change to Amend NASD Rule 3012 Regarding General Supervisory Requirements

NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Rule 3012 to require members relying on the "limited size and resources" exception to Rule 3012's general supervisory requirement for conducting producing managers' supervisory reviews to report electronically to NASD their reliance on the exception.