Proposed Rule Change to Establish a New Effective Date For Amendments to NASD Rule 2340

NASD is filing with the Securities and Exchange Commission ("SEC" or "Commission") a proposed rule change to establish May 31, 2007 as the effective date of the amendments to Rule 2340 (concerning customer account statements) that the SEC approved in September 2006 (SR-NASD-2004-171). The amendments require customer account statements to include a statement advising customers to promptly report any inaccuracy or discrepancy in their account to the introducing firm and clearing firm (where these are different firms) and to re-confirm any oral communication in writing.