• Disqualified Persons—Failure to Discharge Supervisory Obligations
• Supervision—Failure to Comply With Taping Rule Requirements
• Supervision—Failure to Supervise
• Supervision—Systemic Supervisory Failures
• Supervisory Procedures—Deficient Written Supervisory Procedures
(a) Requirements for Participation in Certain Public Offerings
No member that has a conflict of interest may participate in a public offering unless the offering complies with subparagraph (1) or (2).
(1) There must be prominent disclosure of the nature of the conflict of interest in the prospectus, offering circular or similar document for the public offering, and one of the following
(a) GeneralExcept as otherwise provided by paragraph (b) of this Rule, each general securities member shall, with a frequency of not less than once every calendar quarter, send a statement of account ("account statement") containing a description of any securities positions, money balances, or account activity to each customer whose account had a security position, money balance, or
SUGGESTED ROUTING*
Senior Management Corporate Finance SyndicateTrading
*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
In response to the NASD's request, the Securities and Exchange Commission (SEC) has adopted Rule 10b-21 to prohibit persons from purchasing securities out of a public offering to cover short sales executed after the
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
Closing Of Washington District Office
A decision was made in June of last year to close the Washington, D.C. NASD RegulationSM District Office. That District Office officially closed its doors on January 31, 1998.
This notification is to advise readers that the functions of the former D.C. District Office have been divided between the Philadelphia and Atlanta NASD Regulation District Offices.
On This PageForm U4 Explanation of TermsForm U5 Explanation of TermsForms BD & BDW Explanation of TermsForm BR Explanation of TermsForm U4 Explanation of TermsThe following definitions apply to terms that are italicized in Form U4:AffiliatedMeans under common ownership or control.Affiliated FirmMeans a broker-dealer under common ownership or control with the filing firm.ApplicantMeans the
Testimony Before the Committee on Banking, Housing, and Urban Affairs
Summary
To bring attention to a rising trend in the fraudulent transfer of customer accounts through the Automated Customer Account Transfer Service (ACATS), FINRA issued Regulatory Notice 22-21, which alerted member firms about how bad actors effect fraudulent transfers of customer assets using ACATS (referred to as ACATS fraud). That Notice listed several existing regulatory obligations that
SUGGESTED ROUTING
Senior Management
Corporate Finance
Institutional
Legal & Compliance
Municipal
Operations
Systems
Trading
As of October 27, 1995, the following bonds were added to the Fixed Income Pricing System (FIPSSM):
Symbol
Name
Coupon
Maturity
BG.GA
Brown Group
7.375
1/15/98
PRWL.GB
Price Cellular Wireless
12.250
10/1/03
UAL.GH
United Air
10.110
2/19/
