Guidance
We offer guidance to firms in the form of podcasts, webinars, FAQs, reports, and more. Use the toggle below to find guidance by topic, type or date.
A
B
C
D
E
F
G
I
M
N
O
P
R
S
T
Interpretive Letter
Requirements of NASD Rule 2420 to broker/dealer arrangement to pay certain commissions and SEC Rule 12b-1 fees to accounts of various employee benefit plan customers.
April 11, 1997
Interpretive Letter
Application of NASD Rules to the sale of group variable products.
April 11, 1997
Exemptive Letter
Firm X's request for exemption is denied. The Rule imposes a requirement on all firms subject to its provisions to know them and to have in place supervisory procedures to reasonably insure compliance with the Rule. The language of the rule is clear with respect to the limitations imposed on member firms, as distinct from municipal financial professionals. In the instant matter, we cannot conclude that ignorance of the Rule's provisions constitutes reasonable justification or excuse for granting the requested exemption.
March 09, 1997
Interpretive Letter
Staff clarification of NASD Notice to Members 96-60 regarding a member's suitability obligation under NASD Rule 2310 with respect to certain investment company transactions.
March 04, 1997
Regulatory and Compliance Alerts (RCA)
full_html
March 01, 1997
Exemptive Letter
Exemptive relief is based on the firm's failed to implement compliance procedures sufficient to educate its municipal finance professionals regarding the particular provisions of the Rule, or otherwise prevent the occurrence of the contributions.
February 28, 1997
Exemptive Letter
Exemptive relief is denied based on the firm's failure to implement compliance procedures sufficient to educate its municipal finance professionals regarding the particular provisions of the Rule, or otherwise prevent the occurrence of the contributions.
February 28, 1997
Exemptive Letter
Exemptive relief is not granted based on the firm's failure to implement compliance procedures sufficient to educate its municipal finance professionals regarding the particular provisions of the Rule, or otherwise prevent the occurrence of the contributions.
February 28, 1997
Exemptive Letter
Exemptive relief is denied due to a failure of the firm to develop and institute procedures reasonably designed to ensure compliance with Rule G-37.
February 28, 1997
Interpretive Letter
Uniform Practice Code Rule 11870 requires a member to adopt specific measures to facilitate the portability of all transferable securities, including mutual fund shares.
February 21, 1997
Interpretive Letter
Registration requirements of a member if a registered principal begins consulting relationship with the member as a compliance officer.
February 19, 1997
Exemptive Letter
It appears that the violation of the rule described in your letter related directly to the failure of Firm X to adopt procedures to review for political contributions prior to offering employment. Therefore, we cannot conclude that Firm X has demonstrated reasonable justification or excuse for granting the requested exemption. Accordingly, Firm X's request for an exemption is denied.
January 27, 1997
Interpretive Letter
Staff clarification of NASD Notice to Members 96-60 regarding a member's suitability obligation under NASD Rule 2310.
January 23, 1997
Interpretive Letter
Staff clarification of NASD Notice to Members 96-60 regarding a member's suitability obligation under NASD Rule 2310.
January 23, 1997
Exemptive Letter
Exemptive relief is denied. Although C's employment with Firm X was the result of an "internal reorganization", it did result in C being a new employee with Firm X. Had Firm X's procedures as to new hires been followed, the disclosure of the contribution would have been known before C's transfer from an affiliated entity had been effected, rather than after.
January 07, 1997
Interpretive Letter
Staff interpretation of the continuing commissions policy codified in NASD IM-2420.
December 23, 1996
Interpretive Letter
Applicability of NASD Rules to registered representatives of subsidiary bank of member broker/dealer.
December 16, 1996
Interpretive Letter
Staff interpretation of the continuing commissions policy codified in NASD IM-2420.
November 20, 1996
Interpretive Letter
Participation of U.S. underwriters in the multinational offering of shares under NASD IM-2110-1(b)(8) and NASD Rule 2740(c) and NASD Rule 2750.
November 15, 1996
Regulatory and Compliance Alerts (RCA)
full_html
October 31, 1996
Interpretive Letter
Affirmative determination for short sales under NASD Rule 3370.
September 18, 1996
Interpretive Letter
Requirements of member firms to establish a schedule for and conduct inspections of Offices of Supervisory Jurisdiction and branch offices.
August 13, 1996
Interpretive Letter
Minimum requirements under NASD Rule 3010 if a member centralizes its supervisory oversight function over the firm's employees who are both acting as registered representatives and as investment advisers.
August 09, 1996
Interpretive Letter
The applicability of NASD Rule 3040 to situations in which associated persons are proposing to receive selling compensation.
July 23, 1996
Regulatory and Compliance Alerts (RCA)
full_html
July 01, 1996