FINRA Manual: Contents
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For Your Information (October)
For Your Information
National Association of Securities Dealers, Inc.
Three NASD District Offices to Hold Major Conferences This Month
Three NASD offices — Districts 5, 8, and 13 - will sponsor major conferences this month.
The District 5 annual membership meeting and conference, co-sponsored with Tulane Law School, will be Friday, October 6, at the Windsor Court Hotel in New Orleans.
The conference will feature 12 workshops on subjects such as regulation, legislation, arbitration, and new products. Speakers include NASD Chairman William L. Tedford, Jr.; Securities and Exchange Commission (SEC) officials Sarah Ackerson, T. Christopher Brown, Thomas Harmon, Michael Macchiaroli, and Richard Wessell; and state securities commissioners from Arkansas, Mississippi, Tennessee, Alabama, and Louisiana.
Registration costs $175 per person ($150 if three or more registrants are from the same organization), plus a $25 surcharge for registering at the door. The registration fee includes four workshops, course materials, breakfast and lunch Friday, and a cocktail reception Thursday evening. For further information, call Keith Hinrichs of the NASD at (504) 522-6527.
District 8 will sponsor a securities conference Tuesday, October 24, at the Four Seasons Hotel in Chicago. It features nine workshops on topics including advertising requirements, financial and operational matters, and compliance and supervision issues.
A general session will spotlight NASD President Joseph R. Hardiman, and former SEC Chairman David S. Ruder will speak at the luncheon. The 34 panelists include NASD and SEC staff and member-firm executives.
Registration costs $160 per person for NASD members, $200 for nonmembers. Any organization with three or more registrations may reduce the per-person fee by $25. The hotel is holding a limited number of sleeping rooms at a rate of $165 per night that can be reserved by calling (800) 332-3442 or (312) 280-8800. For more information regarding the conference and for registration, call Rose Ursua of the NASD at (312) 899-4320.
District 13 will sponsor an educational seminar for its members at the John Hancock Institute in Boston, Tuesday, October 31. The program features such subjects as supervision and compliance, state regulation, direct participation investments, mutual fund problems, and variable contracts.
Speakers, aside from NASD President Joseph R. Hardiman, include North American Securities Administrators Association President Susan E. Bryant, Assistant Regional SEC Administrator Peter F. Flynn, and securities regulators from Connecticut, Maine, and Massachusetts.
Registration costs $150 per person and includes lunch. The Copley Plaza Hotel in Boston has reserved a limited number of rooms for the meeting. Members wanting to book them should call the hotel directly at (800) 826-7539 or (617) 267-5300. For further information and registration, call Geraldine Degurski of the NASD at (617) 439-4404.
Maine Increases Agent, Broker-Dealer Fees
Effective September 30, 1989, the Maine Securities Commission increased some of its registration and renewal fees. The new agent fees for initial registration, transfer, and renewal are now $30. The broker-dealer renewal fee rose to $100. If you have questions or need more information regarding these changes, contact NASD Information Services at (301) 590-6500.
NASD Publishes New Guide to Rule Interpretations for Firms
In the next few weeks, the NASD will be mailing to all NASD members one complimentary copy of its new NASD Guide to Rule Interpretations. The publication contains current NASD and SEC-approved interpretations to the SEC's Net Capital Rule (15c3-l) and the Customer Protection Rule (15c3-3). The interpretations stem from both SEC letters and also discussions between self-regulatory organizations and the SEC.
Additional copies for members and copies for nonmembers are available for $25 each prepaid. Telephone orders are not accepted, and orders are shipped UPS or Book Rate. For further information, or to request an order form, write to the NASD Book Order Department, P.O. Box 9403, Gaithersburg, MD 20898-9403 or call (301) 590-6578.
Test Date Change for October, Site Change for November Examinations
Series 7 Test Site - Atlanta
The November 18, 1989, Series 7 examination in Atlanta will be held at Sheraton Century Hotel, 2000 Century Boulevard, Atlanta, Georgia.
First Saturday Date Change for Puerto Rico
The first Saturday exam session for October has been changed to October 14, 1989, in Puerto Rico because of the Columbus Day holiday, which falls after the first weekend of the month.
Reminder: Assessment Fees Depend on NASD's Fiscal Year
All members are reminded that annual branch office assessment fees are calculated based on NASD's fiscal year, which ended September 30. Branch office assessment fees are charged for each branch office that is open during any part of the fiscal year. The fiscal 1989-1990 billing period began October 1.
Members with branch offices that closed on or before September 30, 1989, will want to complete and submit Schedule E of Form BD now to report these closings. Offices that remain open on or after October 1 are subject to the fiscal 1989-1990 assessment fees, which will be billed later this year as part of the Central Registration Depository Renewal Assessment process. When completing Schedule E, be sure to indicate the date each office was closed in the "Effective Date" column.