Notice To Members 87-71

TO: All NASD Members

ATTN: Operations Officer, Cashier, Fail-Control Department

On October 20, 1987, the United States District Court for the Western District of Michigan appointed a SIPC trustee for the above-captioned firm.

Members may use the "immediate close-out" procedures as provided in Section 59(i) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12(h)(iv) provides that members may use the above procedures to close out transactions in municipal securities.

Questions regarding the firm should be directed to:

Notice To Members 87-73

TO: All NASD Members and Other Interested Persons

LAST DATE FOR COMMENT: DECEMBER 4, 1987.

EXECUTIVE SUMMARY

The NASD is publishing for comment a revision to its proposed amendment to the Interpretation of the Board of Governors on Free-Riding and Withholding that would provide members with an alternative means of complying with the Interpretation for sales of new issues to investment partnerships.

The text of the proposed amendment is attached.

BACKGROUND

Notice To Members 87-75

TO: All NASD Members and Other Interested Persons

EXECUTIVE SUMMARY

On January 1, 1988, the options regulators will install a revised ROP qualification examination on the PLATO testing network. The revised examination will be expanded to include index, interest rate, and foreign currency option questions. A revised Series 4 study outline incorporating the new material will be available shortly.

BACKGROUND

Notice To Members 87-76

TO: All NASD Members and Other Interested Persons

EXECUTIVE SUMMARY

On January 4, 1988, the NASD will install the Limited Representative—Corporate Securities category of registration on the Central Registration Depository System. This new registration category will qualify persons associated with NASD members to solicit, purchase, or sell corporate securities, as defined in the amendment to Schedule C Part III, Section 2(e) to the NASD By-Laws.

Notice To Members 87-77

TO: All NASD Members and Other Interested Persons

LAST DATE FOR COMMENT: DECEMBER 21, 1987.

EXECUTIVE SUMMARY

The NASD is requesting comments on proposed amendments to the Rules of Practice and Procedures for the Small Order Execution System (SOES) and to Schedule D to the NASD By-Laws. In pertinent part, the proposed rule amendments would:

Notice To Members 87-79

TO: All NASD Members and Other Interested Persons

LAST DATE FOR COMMENT: DECEMBER 24, 1987.

EXECUTIVE SUMMARY

The NASD requests comments on a proposed new By-Law that would permit the NASD to require trade comparison reporting by members conducting' an inter-dealer OTC securities business, as intended when the Trade Acceptance and Reconciliation Service (TARS) began development in 1981.

The text of the proposed new By-Law is attached.

BACKGROUND

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