NASD has filed with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to amend Section 4 of Schedule A to the NASD By-Laws to increase the session fee for the Regulatory Element of the continuing education requirements of Rule 1120.
FINRA Revises the Series 55 Examination Program
NASD is filing with the Securities and Exchange Commission a proposed rule change to repeal NASD Rule 3110(b)(1), Rule 3210, Rule 3370(b) and Rule 11830 in light of the requirements of the SEC’s new short sale regulation, Regulation SHO under the Act. The SEC has indicated that it expects that Reg SHO provisions will supplant existing overlapping self-regulatory organization (SRO) rules.
NASD has filed with the SEC a proposed rule change to establish on a pilot basis new Rule 4400A, which would give NASD the authority to receive and review complaints against NASD Alternative Display Facility (“ADF”) market participants that allege denial of direct or indirect access required pursuant to Rule 4300A.
GUIDANCE
Customer Account Statements
SUGGESTED ROUTING
KEY TOPICS
Institutional Customers
Legal & Compliance
Operations
Senior Management
Clearing Firms
Customer Account Statements
DVP/RVP (Delivery versus Payment/
Receive versus Payment)
NASD Rule 2340
NASD Rule 3110
NASD Rule 11860
SEC Rule 10b-10
SEC Rule 15c3-2
SEC Rule 17a-4
Executive Summary
The Securities
NASD has filed with the SEC a proposed rule change to adopt Interpretative Material 3150 ("IM-3150") to establish exemptions from the reporting requirements of NASD Rule 3150.
FINRA Amends Section 13 of Schedule A to the FINRA By-Laws to Establish Charges for New Option to File Websites and Web Pages in Native Format
SUGGESTED ROUTING
Legal & ComplianceOperationsSystemsTrading
Executive Summary
On August 11, 1994, the SEC approved a series of related changes to NASD rules governing transaction reporting in Nasdaq National Market® securities, The Nasdaq SmallCapSM Market securities, Nasdaq convertible debt securities ("Nasdaq convertibles"), over-the-counter equity securities (OTC
Unless otherwise indicated, suspensions will begin with the opening of business on Monday, November 18, 1996. The information relating to matters contained in this Notice is current as of October 28, 1996. Information received subsequent to the 28th is not reflected in this edition.
Firms Suspended, Individuals Sanctioned
Euro-Atlantic Securities Inc. (Boca Raton, Florida) and David Paul
A member firm that routes an unsolicited customer order for a variable life settlement to another member firm that is permitted to engage in such activity would not constitute a material change in the routing firm’s business operations that would require it to file a continuing membership application, provided that the stated conditions are satisfied.
