INFORMATIONAL
Injunctive Relief
SUGGESTED ROUTING
KEY TOPICS
Executive Representatives
Legal & Compliance
Registered Representatives
Senior Management
Training
Account Transfers
Arbitration
Employment Disputes
Injunctions
Executive Summary
The Securities and Exchange Commission (SEC or Commission) has approved amendments to Rule 10335 of the NASD Code of
NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to create new NASD Rule 1160 (Firm Contact Information) regarding the reporting of designated contact information to NASD and the annual review of such information. The proposed rule change also would amend Rule 1120 (Continuing Education Requirements), Rule 1150 (
Exemptive relief is granted based on the following factors: (1) the Contribution was made by Company prior to signing an acquisition agreement with the Firm Parent;6 (2) at the time of the contribution Company had no involvement in soliciting new, or participating in existing, municipal securities business; (3) Company has been acquired by the Firm Parent and merged into Firm Y, an existing subsidiary of the Firm Parent that reports to and is controlled by the equities business unit of the Firm; (4) Firm Y securities information flow is controlled by NYSE approved information barriers designed to prevent the use of confidential information and conflicts of interest, minimizing the potential for quid pro quo resulting from the Contribution; (5) the Firm has put in place additional processes to ensure the segregation of the acquired Company business operations and its principals from State Business; and (6) although a less weighty factor, the Contribution was returned.
INFORMATIONAL
SUGGESTED ROUTING
KEY TOPICS
Legal & Compliance Senior Management
Consultative Committees District Committees Enforcement Actions Market Regulation Committee
Executive Summary
NASD regulatory staff believes that greater industry input into its investigatory process would be particularly valuable in responding to emerging regulatory issues,
February 10, 2004NASD is publishing this article to provide guidance to member firms on supervisory responsibilities when using another entity to transmit OATS data on the firm's behalf. If a firm utilizes another member or non-member entity ("Reporting Agent") to record and transmit OATS data on its behalf, the member firm is still required to have written supervisory procedures
An exemption is granted based on the following: (1) Name was not an MFP at the time the Contribution was made and was not involved in the solicitation of new municipal securities business; (2) the Firm took action once it became aware of the Contribution by voluntarily refraining from new State or its issuing authorities municipal securities business pending the outcome of the exemption request; (3) the Firm notified Name of his designation as an MFP and the accompanying restrictions; (4) the Firm has agreed to restrict Name's municipal securities activities, minimizing the potential for quid pro quo resulting from the Contribution; and (5) although a less weighty factor, the Contribution has been returned.
Member Surcharge in Arbitration
SUGGESTED ROUTING
KEY TOPICS
FinanceLegal and ComplianceSenior Management
Arbitration
Executive Summary
For arbitration claims filed on or after January 13, 2003, NASD will refund the member surcharge paid by each member firm named as a party (or where its present or former associated person has been named as a party) in an arbitration
NASD is publishing this article to provide guidance to firms on how to report order events to OATS when using an "intelligent" order routing system.
NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend NASD Rules 6130, 6130A, 6130C, 6130D and 6130E to prohibit members from submitting to an NASD Facility (i.e., the Alternative Display Facility ("ADF") or a Trade Reporting Facility) any report (including but not limited to reports of step-outs and
