Member Assessments

The NASD amended Section 1, Schedule A to the NASD By-Laws to increase the credit against a member's annual gross income assessment from 62 to 67 percent for calendar year 1993. The credit will be reduced to 59 percent for 1994.

NASD^® member firms may now order rosters of their registered persons who are subject to the Regulatory Element of the new Securities Industry Continuing Education rules, which were effective July 1, 1995. (See Special Notice to Members 95-13, March 8, 1995).

SEC Approves Amendment To Section 65 Of Uniform Practice Code

To help members track the status of NASD®Rule filings submitted to the Securities and Exchange Commission (SEC), the NASD will publish this information bimonthly in Notices to Members.

For Your Information

SEC Limit Order Handling Rules Effective January 10, 1997

Nasdaq will be implementing the new SEC Limit Order Handling Rules on January 10, 1997. This will affect all Advanced Computerized Execution System (ACES^®) market makers because ACES limit orders will not be linked to the inside market calculation and will not automatically update your quotes.

Rule Filing Status As Of December 3, 1996

NASD Rule Filing Status

Use Of National Association Of Securities Dealers, Inc., Parent And Subsidiary Logos

In response to recent requests from member firms to use one of the corporate logo icons (logos) on their Web pages to indicate a link to one of the three corporate Web sites, this FYI is being issued to clarify the position of NASD Regulation, Inc. (NASD Regulation), the National Association of Securities Dealers, Inc. (NASD), and The Nasdaq Stock Market, Inc. (Nasdaq) on the use of their logos.

SEC Extends Time Period For Commenting On Proposed Changes To Rules 17a-3 And 17a-4 On January 17, 1997, the Securities and Exchange Commission (SEC) announced that it is extending, until March 31, 1997, the comment period for proposed changes to Rules 17a-3 and 17a-4. The proposed amendments clarify, modify, and expand broker/dealer recordkeeping requirements for purchase and sale memoranda, customer records, associated person records, customer complaints, and certain other documents.