Sunsetting Revisions to By-Laws Regarding the Regulatory Fee and the Trading Activity Fee Established in SR-NASD-2002-98

NASD has filed with the SEC a proposed rule change to: (1) amend Schedule A of the NASD By-Laws to sunset the Trading Activity Fee ("TAF") established in SR-NASD-2002-98, terminating on December 31, 2002; and (2) correct language in Section 2 that was mistakenly referenced in SR-NASD-2002-98. NASD is sunsetting the changes made in SR-NASD-2002-98 in response to member comment asserting that a full notice and comment period would be beneficial to NASD members.