This rule is no longer applicable. NASD Rule 1041 has been superseded by FINRA Rule 1200 Series. Please consult the appropriate FINRA Rule.
(a) All Assistant Representatives — Order Processing Must Be Registered
All persons associated with a member who are to function as Assistant Representatives — Order Processing shall be registered with the Association. Before their registrations can become effective, they shall pass a Qualification Examination for Assistant Representatives — Order Processing as specified by the Board of Governors.
(b) Definition of Assistant Representative — Order Processing
Persons associated with a member who accept unsolicited customer orders for submission for execution by the member are designated as Assistant Representatives — Order Processing.
(c) Requirement for Examination on Lapse of Registration
Any persons whose most recent registration as an Assistant Representative — Order Processing has been terminated for a period of two (2) or more years immediately preceding the date of receipt by the Association of a new application shall be required to pass a Qualification Examination for Assistant Representative — Order Processing.
