July 1999
Year 2000: Will Your Firm Be Compliant?
Recognizing the importance of ensuring the Year 2000 readiness of the securities industry, the Securities and Exchange Commission (SEC) has taken key steps to encourage active compliance efforts by broker/dealers. The first of these actions required broker/dealers to submit two Form BD-Y2K progress reports under Rule 17a-5 of the Securities and
Registration Fee Changes
Registration fees have changed recently in the following jurisdictions: Utah, the Chicago Board of Options Exchange, North Dakota, and Nebraska. These registration fees are processed through the Central Registration Depository (CRDSM) and the changes went into effect on July 1, 1999.
Utah
Fee Description
New Amount
• UT Individual Registration Fee
$45.00
• UT
August 1999
Broker/Dealer Day Zero Preparation
Over the weekend of January 1 and 2, 2000, broker/dealers will begin assessing the need to invoke their written contingency or disaster recovery plans. These plans should reflect potential scenarios that could be encountered duringthis unique transition. Firms will implement contingency and disaster recovery plans to the degree necessary to ensure
Comment Period Extended
The Request for Comment period for Notice to Members 99-54 has been extended until August 31, 1999, to give all interested parties, including those who may be focusing on issues relating to the deployment of Web CRD, a meaningful opportunity to comment.
Year 2000 Countdown
As 1999 winds down, Year 2000 issues will receive increased focus as public attention to these issues increase and companies in virtually every industry accelerate efforts to meet Year 2000 compliance deadlines. During this critical period, the securities industry will heighten its focus on regulatory compliance, investor communication, Year 2000 testing, and contingency
Y2K Testing Not Required For Legacy CRD And PC FOCUS
Due to the availability of the new Web Central Registration Depository (CRDSM) system and Web-Based FOCUS filing system, the National Association of Securities Dealers, Inc. (NASD®) does not require Year 2000 testing of their predecessor systems - Legacy CRD and PC FOCUSSM. The new systems - Web CRD and Web-Based FOCUS - have successfully
October 1999
Contingency Planning Activities
Although most businesses have worked, and are continuing to work, diligently to ensure that their Year 2000-related issues will be resolved in time, everyone must anticipate that some things may be overlooked, ignored, or not completed on or before December 31, 1999. In addition, businesses should consider events beyond their control that could
November 1999
Are You Ready For The Year 2000?
As the Year 2000 approaches, most media reports and surveys indicate that businesses are making significant progress and will be well prepared for the century date change. However, there is still work that needs to be done. Organizations should continue to focus on maintaining a high level of readiness. One important way to achieve this is through
December 1999
SEC—Year 2000 Recordkeeping Rule
Effective August 31, 1999, the Securities and Exchange Commission (SEC) adopted SEC Rule 17a-9T (the Rule) relative to Year 2000. The Rule, which was originally proposed in March 1999, is intended to assist broker/dealers, the SEC, self-regulatory organizations (SROs), and the Securities Investor Protection Corporation (SIPC) in identifying all
Electronic Refiling And Payment Reminders
Form BD Refile- Deadline: Dec. 15, 1999
The Securities and Exchange Commission (SEC) has required all broker/dealers to electronically file new information elicited by the revised Form BD and any information that NASD Regulation was unable to convert to the new Web CRDSM format. (NASD Regulation was able to convert some, but not all, of the broker/
