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Retention of Jurisdiction
Sec. 4. (a) A person whose association with a member has been terminated and is no longer associated with any member of Corporation or a person whose registration has been revoked or canceled shall continue to be subject to the filing of a complaint under the Corporation Rules based upon conduct that commenced prior to the termination, revocation, or cancellation or upon such person's failure, while subject to the Corporation's jurisdiction as provided herein, to provide information requested by Corporation pursuant to the Corporation's Rules, but any such complaint shall be filed within:
(i) two years after the effective date of termination of registration pursuant to Section 3, provided, however that any amendment to a notice of termination filed pursuant to Section 3(b) that is filed within two years of the original notice that discloses that such person may have engaged in conduct actionable under any applicable statute, rule, or regulation shall operate to recommence the running of the two-year period under this subsection;
(ii) two years after the effective date of revocation or cancellation of registration pursuant to the Corporation's Rules ; or
(iii) in the case of an unregistered person, two years after the date upon which such person ceased to be associated with the member.
(b) A person whose association with a member has been terminated and is no longer associated with any member of Corporation shall continue to be subject to a proceeding to suspend, consistent with Article VI, Section 3 of the By-Laws, his or her ability to associate with a member based on such person's failure to comply with an arbitration award or a written and executed settlement agreement obtained in connection with an arbitration or mediation submitted for disposition pursuant to the Corporation's Rules, provided that such proceeding is instituted within two years after the date of entry of such award or settlement.
|Amended by SR-NASD-2007-023 eff. July 30, 2007.
Amended by SR-NASD-2003-069 eff. Sept. 9, 2004.
Amended by SR-NASD-97-71 eff. Jan. 15, 1998.
Amended by SR-NASD-94-64 eff. Feb. 9, 1995.
Amended eff. Apr. 15, 1992.
Selected Notices: 87-16, 88-67, 88-68, 89-57, 90-61, 91-60, 91-61, 94-52, 04-57.