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Notice To Members 87-62

TO: All NASD Members and Other Interested Persons

EXECUTIVE SUMMARY

In Notice to Members 87-25, dated April 14, 1987, the NASD requested comments and suggestions on the concept of a rule that would restrict broker-dealers affiliated with issuers from making markets or trading in the securities of those issuers.

The NASD's request was the result of concerns as to whether conflicts of interest may exist or whether rule violations are more likely when broker-dealers engage in making markets or trading in securities issued by affiliates.

Notice To Members 87-63

TO: All NASD Members and Municipal Securities Bank Dealers

FROM: All Operations Personnel

The schedule of trade dates/settlement dates below reflects the observance by the financial community of Columbus Day, Monday, October 12, 1987. On this day, the NASDAQ System and the exchange markets will be open for trading. However, it will not be a settlement date since many of the nation's banking institutions will be closed in observance of Columbus Day.

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

Notice To Members 87-66

TO: All NASD Members and Other Interested Persons

The following are NASD Notices to Members issued during the third quarter 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.

Notice Number

Date

Topic

Notice To Members 87-67

IMPORTANT MAIL VOTE

OFFICERS, PARTNERS, AND PROPRIETORS

TO: All NASD Members

LAST VOTING DATE IS NOVEMBER 13, 1987.

EXECUTIVE SUMMARY

NASD members are invited to vote on a proposed amendment to Article III, Section 35(d)(2)(D) relating to testimonials used in members' communications with the public. The proposed amendment would conform the NASD rule to that of the New York Stock Exchange.

The text of the proposed amendment is attached.

BACKGROUND

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:

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