Executive Summary
With the concurrence of the Securities and Exchange Commission (SEC), the Department of the Treasury (Treasury) recently issued a letter clarifying that the recordkeeping requirements of SEC Rule 17a-3 and Rule 17a-4 apply to forward settling repurchase and reverse repurchase agreement transactions (forward repos). In addition, the letter indicates that broker/dealers should
Executive Summary
In conjunction with the amendments to Regulation T (Reg. T) which are described in Notice to Members 96-37, the Board of Governors of the Federal Reserve System (Fed) is also requesting comments on proposed changes to Regulations G, T, and U. Reg. T covers extensions of credit by and to broker/dealers; Reg. U covers extensions of credit by banks; and Reg. G covers extensions of
Executive Summary
Effective July 1, 1996, tier sizes for 728 Nasdaq National Market securities will be revised in accordance with NASD Rule 4710(g) (formerly Paragraph 2451a7 of the Rules of Practice) and Procedure for the Small Order Execution System.
For more information, please contact Nasdaq Market Operations at (203) 378-0284.
Suggested Routing
Internal Audit
Legal & Compliance
Municipal
Operations
Syndicate
Systems
Trading
Independence Day: Trade Date — Settlement Date Schedule
The Nasdaq Stock MarketSM and the securities exchanges will be closed on Thursday, July 4, 1996, in observance of Independence Day. "Regular way" transactions made on the business days noted below will be
Suggested Routing
Senior Management
Corporate Finance
Institutional
Legal & Compliance
Operations
Systems
Trading
As of May 30, 1996, the following bonds were added to the Fixed Income Pricing System (FIPSSM).
Symbol
Name
Coupon
Maturity
FDB.GA
Foodbrands American Inc
10.750
5/15/06
LOEH.GA
Loehmanns Inc New
11.875
5/15/03
CRBR.GB
Chancellor Radio Broadcasting Co
12
Executive Summary
On June 13, 1996, the Securities and Exchange Commission approved amendments to Section 5 of Schedule A to the NASD By-Laws (Schedule A). The amendments delete the interest and dividend exclusion from gross revenue for member assessment purposes. The amendments, however, allow a member to deduct from its gross revenue all interest and dividend expenses but not in excess of
Executive Summary
As members are aware, abusive communications between members and their associated persons with customers or associated persons of other members is considered conduct that is inconsistent with the requirement that members shall observe high standards of commercial honor and just and equitable principles of trade as contained in NASD's fundamental rule of ethical practice--
Executive Summary
The NASD today appointed Bernard Thompson as Ombudsman for the NASD and its subsidiaries, The Nasdaq Stock Market, Inc., and NASD Regulation, Inc. The Ombudsman position has been created within the NASD's Department of Internal Review. The Ombudsman will serve as an alternative dispute resolution practitioner. His primary objective is to find an acceptable solution to
Executive Summary
The Central Registration Depository (CRDSM), a computerized database containing information on all licensed registered representatives and broker/dealers, is undergoing a technological upgrade. As part of this project, the NASD has converted disclosure information from its current state (free text) into a new format (Windows-based, with discrete fields and pick lists). This
Executive Summary
NASD Regulation, Inc., as part of its continuing efforts to provide additional locations for computerized delivery of Qualification Examinations and the Regulatory Element of the Continuing Education Program (CEP), has contracted with Sylvan Learning Systems, Inc. (Sylvan), for the management and operation of its test center network. The transition of the current NASD PROCTOR
