Year 2000 Program Addresses Challenges Faced By Automated Systems
Members Be Advised: The year 2000 will be upon us in less than two and a half years, and, to be ready, all National Association of Securities Dealers, Inc. (NASD®) member firms must take action now to ensure that their automated systems will continue to operate successfully. The NASD has instituted a Year 2000 (Y2K) Program to
Disciplinary Action Corrections
The following corrections pertain to the August 1997 Notices to Members Disciplinary Actions section.
Page 428—Charles William Duquette (Registered Representative, Beaverton, Oregon) was suspended from January 6, 1996 to July 6, 1997. Lewis H. Aytes (Registered Representative, Medford, Oregon) was suspended from February 15, 1996 to August 15, 1997. The August
SEC Extends Arbitration Rules
On September 5, 1997, the Securities and Exchange Commission (SEC) approved a five-year extension of the rules governing large and complex cases in National Association of Securities Dealers, Inc. (NASD®) arbitration—Rule 10334 of the NASD Code of Arbitration Procedure (Code)—to August 1, 2002. In addition to extending the rules for five years, the rule was amended
New Customer Support Hotline Number
Those member firms that are enjoying the benefits of the National Association of Securities Dealers, Inc. (NASD® Member Compliance Support System, Training Analysis and Planning Tool, Version 2.0 (MCSS), will soon benefit from enhanced customer service.
Please note that, as of November 3, 1997, technical questions regarding the MCSS application will be
Clarification Of Special Notice To Members 97-55
In August 1997, the National Association of Securities Dealers, Inc. (NASD®) published Special Notice to Members 97-55 entitled "New Membership Application Rules, New Code of Procedure and Other New Disciplinary Rules," which described, among other things, the new Code of Procedure and when such Rules would apply to a disciplinary
NASD Regulation Reminds Members To Develop Year 2000 Plans
NASD Regulation, Inc., urges National Association of Securities Dealers, Inc. (NASD®) members to develop and implement an action plan to ensure and achieve Year 2000 compliance. The scope of Year 2000 plans should extend to all information technology systems (internal and external) used to conduct a securities business and other
Clarification Of Notice To Memers 98-10
NASD Notice to Members 98-10 (January 1998) entitled "Transaction Reporting And Quotation Obligations Under the Fixed Income Pricing System (FIPS)" contained a question and answer concerning compliance officers and the need for firms to report all transactions under The Nasdaq Stock Market, Inc., Fixed Income Pricing SystemSM (FIPSSM), regardless
Closing Of Washington District Office
A decision was made in June of last year to close the Washington, D.C. NASD RegulationSM District Office. That District Office officially closed its doors on January 31, 1998.
This notification is to advise readers that the functions of the former D.C. District Office have been divided between the Philadelphia and Atlanta NASD Regulation District Offices.
Important Year 2000 Information
Based on milestones published by the Securities Industry Association (SIA), securities firms at this time should have a comprehensive Year 2000 program plan in place and be actively certifying third-party products and service providers for Year 2000 readiness. Firms also need to begin completing the repairs to any of their internal applications and testing these
Use Of Alias Prohibited During Cold Calling
It has come to the attention of NASD Regulation, Inc., that some registered representatives may be using aliases when making cold calls. Such activity violates National Association of Securities Dealers, Inc. (NASD®) Rule 2211 and the Federal Communications Commission's telephone solicitation rules, 47 C.F.R. 64.1200(e)(iv) (1997)1, which require
