Notice to Members 00-63

NASD Regulation Provides Guidance on the Use of Installment Payments to Satisfy Arbitration Awards

In August 2000, the National Association of Securities Dealers, Inc. (NASD®) published Notice to Members 00-55 which announced that NASD Dispute Resolution, Inc. (NASD Dispute ResolutionSM) will require firms to certify in writing that they have complied with arbitration awards within 30 days of receipt of the award notice.

This Notice is intended to provide guidance to members on the use of installment payments to satisfy arbitration awards, in light of the Securities and Exchange Commission (SEC) Rule 15c3-1 (the Net Capital Rule).

Questions regarding this Notice may be directed to Susan M. DeMando, Director, Member Regulation, NASD Regulation, Inc. (NASD RegulationSM), at (202) 728-8411; or Daniel M. Sibears, Senior Vice President, Member Regulation, NASD Regulation, at (202) 728-6911.