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86-15 Monthly Reports of Aggregate "Short" Positions
TO: All NASD Members and Other Interested Persons
On January 20, 1986, the NASD issued Notice to Members 86-4, announcing the Securities and Exchange Commission's approval of new Article III, Section 41 of the NASD Rules of Fair Practice. The new rule requires all NASD members to maintain a record of their total "short" positions in NASDAQ securities in all customer and proprietary firm accounts and to report aggregate "short" positions to the NASD on a monthly basis beginning in February 1986. The Notice to Members also included a copy of Form NS-1, the reporting form that members should utilize in making monthly reports of aggregate "short" positions.
Since the issuance of the notice, certain questions have arisen regarding the use of the form. To clarify:
National Association of Securities Dealers, Inc.
P. O. Box 37272
Washington, DC 20013
Questions regarding Form NS-1 may be directed to Leon Bastien, NASD Market Surveillance Section, at (202) 728-8192. If you need information concerning the filing of Form NS-1, call Elizabeth A. Wollin, NASD Automated Reports Section, at (202) 728-3111.
Frank J. Wilson
Executive Vice President and General Counsel