Amendments to the Code of Procedure and Other Provisions
The NASD, through its wholly owned subsidiary, NASD Regulation, Inc., is filing with the SEC a proposed rule change that includes: (1) clarifying the Department of Market Regulation's role in disciplinary proceedings; (2) requiring members to designate, as the custodian of the record on the Form BDW, persons who are associated with the firm at the time the forms are filed; (3) clarifying the authority of hearing officers and making some limited changes to that authority; (4) clarifying the scope of the Association's document production requirements; (5) providing for hearing panel review of staff determinations to impose limitations on member firms' business activities because of financial and/or operational difficulties; (6) providing for changes to the process for appeals of disciplinary actions, statutory disqualification proceedings, and certain other accelerated proceedings; (7) providing for a streamlined process to impose bars or expulsions for the failure to provide information to the Association; and (8) providing for a process by which the Association can more expeditiously cancel memberships of firms that fail to meet the Association's eligibility and qualification standards.
|Title||Format - Size||Status|
|Text of Proposed Rule Change, as Amended||PDF - 157.43 KB|
|Federal Register Notice||PDF - 132.92 KB|
|Response to Comments and Amendment No. 2 to Proposed Rule Change||PDF - 10.38 KB|
|Approval Order||PDF - 141.82 KB|