Effective Date: November 1, 1994
SUGGESTED ROUTING
Senior ManagementCorporate FinanceLegal & ComplianceSyndicateTradingTraining
Executive Summary
On August 15, 1994, the Securities and Exchange Commission (SEC or Commission) approved amendments, in part, to Article III, Section 34 (Section 34), of the NASD Rules of Fair Practice prohibiting NASD members or associated persons from
IMPORTANT MAIL VOTE
OFFICERS, PARTNERS AND PROPRIETORS
TO: ALL NASD Members
LAST VOTING DATE IS SEPTEMBER 13, 1985
Enclosed is a proposed addition to Article III of the NASD's Rules of Fair Practice. The proposed new rule has been approved by the Board of Governors and now requires the membership's approval,
The rule would establish new requirements for the private securities
Publication Date: February 23, 2023
Interpretations are marked in blue background beneath the rule text to which they relate.
15c3-1c Consolidated computations of net capital and aggregate indebtedness for certain subsidiaries and affiliates (appendix C to 17 CFR 240.15c3-1).
15c3-1c(a) Flow through capital benefits. Every broker or dealer in computing its net capital and aggregate
(a) General Prohibitions
(1) A member or a person associated with a member may not sell, or cause to be sold, a new issue to any account in which a restricted person has a beneficial interest, except as otherwise permitted herein.
(2) A member or a person associated with a member may not purchase a new issue in any account in which such member or person associated with a member has a beneficial
In securities transactions, whether in "listed" or "unlisted" securities, if a member buys for his own account from his customer, or sells for his own account to his customer, he shall buy or sell at a price which is fair, taking into consideration all relevant circumstances, including market conditions with respect to such security at the time of the transaction, the expense
(a) General Prohibitions
(1) A member or a person associated with a member may not sell, or cause to be sold, a new issue to any account in which a restricted person has a beneficial interest, except as otherwise permitted herein.
(2) A member or a person associated with a member may not purchase a new issue in any account in which such member or person associated with a member has a beneficial
FINRA Reminds Firms of Their Obligations to Determine Whether Securities are Eligible for Public Sale
Good afternoon and thank you for inviting me to spend some time with you discussing complex products. I'm sure you know that this has been a priority for FINRA examiners. I would like to share some of what we have learned so far.
A self-directed individual retirement account (IRA) is an IRA held by a custodian that allows investment in a broader set of assets than most IRA custodians permit. Custodians for self-directed IRAs may allow investors to invest retirement funds in “alternative assets” that have unique risks, including a lack of information and liquidity—and the risk of fraud.
A member firm may include related performance information in institutional communications concerning Section 3(c)(1) Funds, subject to the stated conditions discussed in the letter.
