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.
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
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
Securities Industry/Regulatory Council on Continuing Education Issues Firm Element Advisory Update
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 taken disciplinary actions against the following firms and individuals for violations of NASD rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
<p>If a member engages in a TRACE-eligible securities transaction that is part of an open market issuer repurchase, the member would not be in compliance with Rule 6230 if the member failed to report the transaction in reliance on Rule 6230(e)(3).</p>
GUIDANCEAffirmative Determination RequirementsSUGGESTED ROUTINGKEY TOPICSExecutive RepresentativeLegal & ComplianceOperationsNASD Rule 3370Short Sale RuleAffirmative DeterminationExecutive SummaryOn November 14, 2003, the Securities and Exchange Commission (SEC) approved amendments to Rule 3370 (Prompt Receipt and Delivery of Securities—the "affirmative
