Notice to Members 97-36

NASD Interpretive Letters

The Office of General Counsel, NASD Regulation, Inc. (NASD RegulationSM) and Office of General Counsel, The Nasdaq Stock Market, Inc. (Nasdaq®) have prepared a compilation of select interpretive letters that have been issued by the respective NASD®, NASD Regulation, and Nasdaq Offices of General Counsel (OGC), as well as other departments within NASD Regulation and Nasdaq. The compilation includes a broad sample of interpretive letters covering signifi-cant and reoccurring interpretive issues  presented to the NASD over the last several years. These select interpretive letters will be made available to the members and the public upon written request, and will also reside on the NASD Regulation Web page. Included with this Notice, as Exhibit A, is an index, by NASD rule number, of select interpretive letters as of May 1997.