FINRA’s Membership Application Program Group (MAP) serves as the entry point to the securities industry by ensuring that prospective and current FINRA members meet FINRA’s Standards for Admission (Standards). Prospective FINRA members must seek approval for membership through the submission of a New Member Application (NMA). Existing FINRA members must file a continuing membership
<p>Permissibility of electronic approval of accounts under NASD Rule 3110(c)(1)(C). (Note: Underlining indicates redactions from original letter).</p>
<p>Member firms may pay retired registered representatives continuing commissions based on contributions to accounts established by the former representatives prior to retirement, provided the conditions of NASD IM-2420-2 are satisfied, and further, that such payments are made in compliance with SEC "no-action" letters addressing the permissibility of those payments under Section 15(a) of the Securities Exchange Act of 1934. Firms cannot pay retired registered representatives commissions based on activity in accounts established after the representatives' retirement.</p>
<p>Proposed employee leasing arrangement does not violate Rule 2420.</p>
ACTION REQUESTED
Rule Modernization Project
Comment Period Expires: July 2, 2001
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KEY TOPICS
Executive Representatives
Legal & Compliance
Senior Management
Rule Review
Rule Modernization
Executive Summary
Over the past several years, NASD Regulation, Inc. (NASD Regulation) has conducted a comprehensive review of many of the National
Before you can buy a house, you will need to shop for—and qualify for—a home loan.
John Gannon Testimony - July 16, 2008: Testimony Before the
Special Committee on Aging
United States Senate
I strongly oppose any further regulations by FINRA of leveraged or "complex" securities, especially any potential minimum liquid net worth requirements. Such regulation would be devastating for me personally and would represent a grave injustice perpetrated against many people.
There's a proper role in society for a truly private, voluntary organization that helps
Mr. Chairman and Members of the Subcommittee: NASD is grateful to the committee for inviting us to testify on NASD's regulatory activities regarding inappropriate sales of certain investment products to members of the armed forces, and for allowing us to submit this statement for the record.
I have been using Leveraged ETFs for years as part of my family's overall wealth building and management plan.
There is no reason for government regulation and limitations to be placed on these instruments, as they are an important tool in helping meet financial goals.
These are publicly traded funds that provide powerful boosts to performance for personal investors at a reasonable cost
