Proposed Rule Change to Section 9 of Schedule A to the NASD By-Laws

NASD has filed with the SEC a proposed rule change to amend Section 9 of Schedule A of the NASD By-Laws ("Section 9") to: (1) delete current Section 9 regarding subscription charges for Firm Access Query System (FAQS); and (2) establish subscription charges for NASD member firms that choose to use Web CRD Electronic File Transfer system for registration batch filing and/or data download.