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TO: All NASD Members and Other Interested Persons
LAST DATE FOR COMMENT: MARCH 31, 1988.
EXECUTIVE SUMMARY
The NASD requests comments on proposed amendments to the NASD Rules of Fair Practice that would generally prohibit members from accepting non-cash sales compensation in connection with the distribution of investment company and variable contract products.
The purpose of the amendments is to
1. Disciplinary sanctions should be designed to protect the investing public by deterring misconduct and upholding high standards of business conduct.
The purpose of FINRA's disciplinary process is to protect the investing public, support and improve the overall business standards in the securities industry, and decrease the likelihood of recurrence of misconduct by the disciplined
• Disqualified Persons—Failure to Discharge Supervisory Obligations
• Supervision—Failure to Comply With Taping Rule Requirements
• Supervision—Failure to Supervise
• Supervision—Systemic Supervisory Failures
• Supervisory Procedures—Deficient Written Supervisory Procedures
Disqualified Persons—Failure to Discharge Supervisory Obligations
FINRA Rules 2010 and 3110
(a) ApplicationThis Rule shall apply exclusively to the activities of members in connection with the securities of companies registered under the Investment Company Act; provided however, that Rule 2320 shall apply, in lieu of this Rule, to members' activities in connection with "variable contracts" as defined therein.(b) Definitions(1) The terms "affiliated member,"
(a) Application
This Rule shall apply exclusively to the activities of members in connection with the securities of companies registered under the Investment Company Act; provided however, that Rule 2320 shall apply, in lieu of this Rule, to members' activities in connection with "variable contracts" as defined therein.
(b) Definitions
I am Mary L. Schapiro, President of NASD Regulation, Inc. NASD Regulation, Inc. and our parent, the National Association of Securities Dealers, Inc. (NASD®), would like to thank the Subcommittee for this opportunity to testify on the securities day-trading industry
Summary
FINRA seeks comment on a proposal to implement the recommendations of the Securities Industry/Regulatory Council on Continuing Education (CE Council) enhancing the continuing education requirements for securities industry professionals.1 The proposal would change the: (1) Regulatory Element to provide annual training, make the content more relevant, incorporate diverse instructional
FINRA Announces SEC Approval and Effective Date for New Consolidated FINRA Rules; Effective Date: December 15, 2008
(a) Procedures for Reviewing Transactions
(1) An Executive Vice President of FINRA's Market Regulation Department or Transparency Services Department, or any officer designated by such Executive Vice President (FINRA officer), may, on his or her own motion, review any over-the-counter transaction involving an exchange-listed security arising out of or reported through a
(a) Procedures for Reviewing Transactions
(1) An Executive Vice President of FINRA's Market Regulation Department or Transparency Services Department, or any officer designated by such Executive Vice President (FINRA officer), may, on his or her own motion, review any over-the-counter transaction involving an exchange-listed security arising out of or reported through a