To Establish Effective Date for NASD Rule 1050, Registration of Research Analysts

NASD has filed with the SEC a proposed rule change to establish "not later than March 30, 2004" as the effective date for Rule 1050, which requires persons associated with a member who function as research analysts to be registered as such and to pass a qualification examination. The proposal also would ensure that the effective date for Rule 1050 would occur no sooner than 30 days after a study outline for the Research Analyst Qualification Examination is filed by NASD with the Commission and becomes effective.