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Up to Sep 30 2018Oct 1 2018 onwards

1041. Registration Requirements for Assistant Representatives

This rule is no longer applicable. NASD Rule 1041 has been superseded by FINRA Rule 1200 Series. Please consult the appropriate FINRA Rule.

(a) All Assistant Representatives — Order Processing Must Be Registered
All persons associated with a member who are to function as Assistant Representatives — Order Processing shall be registered with the Association. Before their registrations can become effective, they shall pass a Qualification Examination for Assistant Representatives — Order Processing as specified by the Board of Governors.
(b) Definition of Assistant Representative — Order Processing
Persons associated with a member who accept unsolicited customer orders for submission for execution by the member are designated as Assistant Representatives — Order Processing.
(c) Requirement for Examination on Lapse of Registration
Any persons whose most recent registration as an Assistant Representative — Order Processing has been terminated for a period of two (2) or more years immediately preceding the date of receipt by the Association of a new application shall be required to pass a Qualification Examination for Assistant Representative — Order Processing.
Amended by SR-NASD-2002-110 eff. Dec. 2, 2002.
Amended by SR-NASD-88-26 eff. June 12, 1989.

Selected Notice: 02-77.

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