Regulatory Notice 07-51
Amendments to NASD IM-9216 to include certain NYSE Rules under the Minor Rule Violation Plan
Effective September 24, 2007, the list of violations eligible for disposition under the MRVP includes certain NYSE rules that pertain to the regulation of member firm conduct and that were incorporated into the FINRA rulebook.1 FINRA’s NYSE rules apply solely to FINRA members that also are members of the NYSE on or after July 30, 2007, referred to as “dual members.” The amendments to NASD IM-9216 allow FINRA to impose a fine—rather than commence disciplinary proceedings—for minor violations by dual members of the NYSE rules (in addition to the other rules) contained in the MRVP.
IM-9216, as amended, is set forth in Attachment A of this Notice.
Questions concerning this Notice may be directed to Kathryn M. Moore, Assistant General Counsel, Office of General Counsel, at (202) 974-2974.
1See Securities Exchange Act Release No. 56504 (September 24, 2007), 72 FR 55850 (October 1, 2007) (Approval Order of File No. SR-NASD-2007-055).