Notice To Members 87-50

TO: All NASD Members and Other Interested Persons

The Securities and Exchange Commission (SEC) has amended its net capital, recordkeeping, and quarterly securities-count rules under the Securities Exchange Act of 1934 regarding the treatment of repurchase (repo) and reverse repurchase (reverse repo) agreements entered into by registered broker-dealers.

The amendments to SEC Rule 15c3-l will become effective on September 10, 1987. The amendments to SEC Rules 17a-3 and 17a-13 became effective on July 25, 1987.

Notice To Members 87-53

TO: All NASD Members and Other Interested Persons

LAST DATE FOR COMMENT: SEPTEMBER 11, 1987.

EXECUTIVE SUMMARY

On October 28, 1986, President Reagan signed the Government Securities Act of 1986, providing for the regulation of government securities activities by brokers and dealers. This legislation created a new section 15C of the Securities Exchange Act of 1934, which requires SEC registration and either NASD or exchange membership for government securities brokers and dealers.

Notice To Members 87-55

TO: All NASD Members and Other Interested Persons

EXECUTIVE SUMMARY

The Securities and Exchange Commission declared effective, on July 1, 1987, amendments to Section 43 of the NASD Code of Arbitration Procedure (Code) and the Board of Governors' Resolution titled "Failure to Act under Provisions of the Code of Arbitration Procedure" (Resolution).

Notice To Members 87-56

TO: All NASD Members and Municipal Securities Bank Dealers

FROM: All Operations Personnel

Securities markets and the NASDAQ System will be closed on Monday, September 7, 1987, in observance of Labor Day. "Regular way" transactions made on the business days noted below will be subject to the following schedule.

Trade Date-Settlement Date Schedule For "Regular Way" Transactions

Trade Date

Notice To Members 87-58

TO: All NASD Members and Other Interested Persons

BACKGROUND

The Securities and Exchange Commission (SEC) has amended its customer protection rule (Rule 15c3-3) under the Securities Exchange Act of 1934, in connection with repurchase (repo) agreements with customers when the broker-dealer retains custody of any securities subject to these agreements.

Notice To Members 87-59

TO: All NASD Members and Other Interested Persons

The following are NASD Notices to Members issued during the fourth quarter of 1986, and the first and second quarters of 1987. Requests for copies of any notice should be accompanied by a self-addressed mailing label and directed to: NASD Administrative Services, 1735 K Street, N.W., Washington, D.C. 20006-1506

Fourth Quarter—1986

Notice Number

Date

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