Firm's President Fined and Suspended
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Monex Securities Inc. to pay $1,100,000 in disgorgement of commissions, plus interest, obtained by unregistered foreign individuals who sold securities on the firm's behalf. FINRA also fined Monex $175,000 for failing to register the foreign
TO: All NASD Members
ATTN: Operations Officer, Cashier, Fail-Control Department
On January 30, 1986, the United States District Court for the Eastern District of Arkansas appointed a SIPC Trustee for the above-captioned firm. Previously on January 28, Richard Smith, Esquire had been appointed a Trustee under Chapter 7 of the Bankruptcy Act.
Members may use the "immediate close-out"
TO: All NASD Members and Other Interested Persons
LAST DATE FOR COMMENT: MARCH 26, 1986
The amended NASD Rules of Fair Practice, proposed by the NASD's Ad Hoc Committee on Rule and By-Law Amendments, which reviews and revises the NASD's By-Laws, rules and interpretations, are attached for comment by members and other interested persons.
The Committee's review began with adoption
Thank you, Jonathan, for that overly kind welcome.
It's always a treat to be at a gathering like this. One of the fine traditions of the investment business is how the cumulative effect of our work—the work of academics, regulators, and practitioners—has always been the driving force for evolution in market efficiency, effectiveness, and security. A conference like this is part of how that
TO: All NASD Members and Level 2 and Level 3 Subscribers
On Tuesday, February 18, 1986, 22 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,246. These 22 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for
TO: All NASD Members and Other Interested Persons
On January 29, 1986, a new Section 12 to Schedule A of the NASD By-Laws became effective, as announced in SEC Release No. 34-22861, dated February 4, 1986. The rule establishes a $500 fee to be paid in connection with application for registration in the securities industry by individuals subject to a disqualification pursuant to Article II,
TO: All NASD Members, NASDAQ Issuers and Other Interested Persons
LAST DATE FOR COMMENT: MARCH 23, 1986
The National Association of Securities Dealers, Inc. (NASD), requests comments on a proposed amendment to Schedule D of the NASD By-Laws that would authorize the NASD to halt over-the-eounter trading in a NASDAQ security pending the dissemination of material news by the issuer. Schedule D
TO: All NASD Members and Level 2 and Level 3 Subscribers
On Tuesday, March 4, 1986, 14 issues are scheduled to join the NASDAQ National Market System, bringing the total number of issues in NASDAQ/NMS to 2,259. These 14 issues, which will begin trading under real-time trade reporting, are entering the NASDAQ/NMS pursuant to the Securities and Exchange Commission's criteria for voluntary
TO: All NASD Members and Other Interested Persons
On January 20, 1986, the NASD issued Notice to Members 86-4, announcing the Securities and Exchange Commission's approval of new Article III, Section 41 of the NASD Rules of Fair Practice. The new rule requires all NASD members to maintain a record of their total "short" positions in NASDAQ securities in all customer and
TO: All NASD Members and Other Interested Persons
On March 17, 1986, several amendments to SEC Rule 10b-10, the customer confirmation rule, will become effective. The amendments will require broker-dealers to report on customer confirmations trade prices and mark-ups and mark-downs in principal transactions in reported securities. "Reported securities" include NASDAQ National Market