Amendment to Pilot Rule in IM-10100(f) of the NASD Code of Arbitration Procedure Regarding Waiver of California Arbitrator Disclosure Standards; Immediate Effectiveness Requested

NASD has filed with the SEC a proposed rule change to amend the pilot rule in IM-10100(f) of the NASD Code of Arbitration Procedure ("Code") that requires industry parties in arbitration to waive application of contested California arbitrator disclosure standards, to include claims by members against other members or associated persons that relate exclusively to promissory notes.