FINRA Manual: Contents
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86-72 Norbay Securities, Inc. 36-35 Bell Boulevard Bayside, New York 11361
TO: All NASD Members
ATTN: Operations Officer, Cashier, Fail-Control Department
On October 14, 1986, the United States District Court for the Eastern District of New York, appointed a SIPC Trustee for the above-captioned firm.
Members may use the "immediate close-out" procedures as provided in Section 59(i)(2) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12(h)(iii) provides that members may use the above procedures to close out transactions in municipal securities.
Questions regarding the firm should be directed to:
Irving H. Picard, Esquire
Moses & Singer
Time & Life Building
1271 Avenue of the Americas
New York, New York 10020
Telephone: (212) 246-3700