NASD Rule Filing Status
Rule Filing Status As Of December 3, 1996
NASD Rule Filing Status
Following is a list of rule filings by the NASD regarding broker/dealer regulation that are pending at the Securities and Exchange Commission (SEC) or recently approved. The information set forth below is current as of December 3, 1996. Copies of rule filings (and any amendments thereto), the SEC release publishing the rule proposal for comment, and the SEC release approving the rule change are available from the SEC Public Reference Room at (202) 942- 8090 or, call Kristine Gwilliam, NASD® Office of General Counsel, at (202) 728-8821 (in certain cases a fee may be required). NASD rule changes are not effective until the date approved by the SEC.
Rule Filings That Have Not Been Published For Comment
Amend Uniform Practice Code Rule 11580 to grant authority to staff to provide exemptions from the requirement to use Standardized Transfer Forms when transferring limited partnership securities.
Amend Uniform Code of Arbitration Rule 10335 (formerly Section 47 of the Code of Arbitration Procedure) to clarify that parties are required to expedite any proceeding where a court has issued temporary injunctive relief and that failure to expedite a proceeding under the Rule will constitute a failure to arbitrate in violation of NASD rules.
Rule Filings That Have Been Published For Comment But Have Not Been Approved By The SEC
Amend Rule 6800 to permit smaller mutual funds to disseminate their prices via Mutual Fund Quotation Service. Published for comment by the SEC in Rel. No. 34-37922 (11/5/96); 61 FR 58271 (11/13/96).
Amend IM-2210-3 to allow for the use in advertisements and sales literature of investment company rankings that represent short-, medium-, and long-term performance. Published for comment by the SEC in Rel. No. 34-37987 (11/25/96); 61 FR 64185 (12/3/96).
Amend IM-8310-2 to expand the categories for the release of information contained in the Central Registration Depository (CRD) regarding disciplinary history. Published for comment by the SEC in Rel. No. 34-37994 (12/2/96); 61 FR 64549 (12/5/96).
Add new Rule 2211 and amend Rule 3110 (formerly Article IV, Section 21 of the NASD Rules of Fair Practice) to impose time restriction and disclosure requirements on telemarketing calls. Published for comment by the SEC in Rel. No. 34-37475 (7/24/96); 61 FR 39686 (7/30/96).
Amend the NASD rules to adopt a new section to regulate the conduct of a broker/dealer on the premises of a financial institution. Published for comment by the SEC in Rel. No. 34- 36980 (3/15/96); 61 FR 11913 (3/22/96).
Amend Rules 2830 and 2820 (formerly Article III, Sections 26 and 29 of the NASD Rules of Fair Practice) to regulate the receipt by members and their associated persons of cash and non-cash compensation for the sale of investment company and variable contract securities. Published for comment by the SEC in Rel. No. 34- 37374 (6/26/96); 61 FR 35822 (7/8/96). Comment period extended by the SEC in Rel. No. 34-37528 (8/5/96); 61 FR 41816 (08/12/96).
Rule Filings Recently Approved By The SEC
Amend Schedule A to the NASD By-Laws to adopt CRD fees. Immediate effectiveness granted by the SEC in Rel. No. 34- 37826 (10/22/96); 61 FR 54830 (10/22/96).
Amend Rule IM-8310-2 to permit the NASD to provide a copy of any disciplinary complaint or decision upon request and require that such copy be accompanied by a disclosure statement in certain circumstances. Accelerated approval granted by the SEC in SEC Rel. No. 34-37797 (10/9/96); 61 FR 53984 (10/16/96).
Permanent approval requested for the Plan of Allocation and Delegation setting forth the purpose, function, governance, procedures, and responsibilities of the NASD, NASD Regulation, and Nasdaq. Temporary accelerated approval granted by the SEC and publication for comment in Rel. No. 34-37425 (7/11/96); 61 FR 37518 (7/18/96). Temporary accelerated approval granted by the SEC in Rel. No. 34-37957 (11/15/96; 61 FR 59267 (11/21/96) through 5/15/97.
Amend the NASD By-Laws to make them consistent with the Delegation Plan. Published for comment by the SEC in Rel. No. 34-37282 (6/6/96); 61 FR 29777 (06/12/96). Temporary accelerated approval granted by the SEC in Rel. No. 34-37424 (7/11/96); 61 FR 37515 (7/18/96). Temporary accelerated approval granted by the SEC in Rel. No. 34-37956 (11/15/96; 61 FR 59265 (11/21/96) through 5/15/97.