NASD Regulation Reminds Members To Develop Year 2000 Plans
NASD Regulation, Inc., urges National Association of Securities Dealers, Inc. (NASD®) members to develop and implement an action plan to ensure and achieve Year 2000 compliance. The scope of Year 2000 plans should extend to all information technology systems (internal and external) used to conduct a securities business and other
November 1998
Mandatory Testing
On October 5, 1998, the National Association of Securities Dealers, Inc. (NASD®) filed a proposed rule change with the Securities and Exchange Commission (SEC) that would mandate Year 2000 testing for clearing firms, market makers, and government securities firms. The proposed rule also would strongly encourage testing between correspondent clearing firms and
National Association of Securities Dealers, Inc.
Notice Of Meeting And Proxy
The Annual Meeting of members of the National Association of Securities Dealers, Inc. ( NASD®) will be held on December 21, 1998, at 9:30 a.m., at the Carlton Hotel, 16th & K Sts. N.W., Washington, D. C.
The items of business to be considered at the Annual Meeting are:
1.
Election of persons to serve on
April 1999
How Broker/Dealers Can Address Customer Concerns About The Year 2000
Investors are aware of the potential problems caused by the coming century change. As a result, they may consider changing their investing habits and strategies leading to more frequent questioning of their brokerage firms about the Year 2000 issue.
Leading up to the new year, it is important that broker/dealers
Member Firms Now May Submit EDGAR Documents On Computer Disks To Meet The Information Requirements Of SEC Rule 15c2-11 And NASD Marketplace Rule 6740
Member firms may now demonstrate compliance with Securities and Exchange Commission (SEC) Rule 15c2-11 and National Association of Securities Dealers, Inc. (NASD®) Marketplace Rule 6740 by submitting one copy of EDGAR documents on computer disk, in
May 1999
Internal Testing And Contingency Planning
Internal Testing
No matter the size of your firm—two people, 200, or 20,000-you should be mindful of potential Year 2000 challenges. Internal testing of all systems, especially those that are mission critical, should now be in progress or completed.
For example, stand-alone personal computers (PCs), networked systems, and related software
March 1999
Deadline For Completion Of Form BD-Y2K Is Near
The National Association of Securities Dealers, Inc. (NASD®) recently mailed a Form BD-Y2K package to each member firm for completion by April 30, 1999.
The recent amendments to Securities and Exchange Commission (SEC) Rule 17a-5 require all NASD members with minimum net capital requirements of $5,000 or greater as of March 15, 1999,
Market Regulation Compliance Report Cards
On September 24, 1998, staff of the Market Regulation Department (Market Regulation) of NASD Regulation began making available quantitative reports for each NASD member firm concerning its compliance with trade reporting, firm quote, and best execution. The reports are being provided to firms as a compliance aid to assist them in ensuring that they are
As referenced in FINRA's Annual Priorities Letter, conflicts of interest represent a recurring challenge that contribute to compliance and supervisory breakdowns which can lead to firms and registered representatives, at times, compromising the quality of service they provide to clients.
FINRA has taken disciplinary actions against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).
