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Proposed Rule Change to Clarify That Members of the National Adjudicatory Council May Serve as Panelists in the Appeal or Review of Disciplinary Proceedings

NASDR has filed with the SEC a proposed rule change to Rule 9120(v) and Rule 9331 of the Rules of the National Association of Securities Dealers, Inc. to clarify that current and former members of the National Adjudicatory Council may serve as Panelists on a Subcommittee or an Extended Proceeding Committee in the appeal or review of disciplinary proceedings undertaken pursuant to the Rule 9300 Series of the revised Code of Procedure. During the most recent revisions undertaken to conform the Code of Procedure and related rules to the corporate restructuring of the Association, the Association failed to add in Rule 9331 an explicit reference to the members of the National Adjudicatory Council, which was required because another defined term in the rule, "Director," was amended, resulting in the exclusion of members of the National Adjudicatory Council from its scope. A conforming change is required in Rule 9120(v).

Title Format - Size Status
Text of Proposed Rule Change PDF - 31.14 KB
Approval Order PDF - 28.45 KB