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89-7 1989 Renewal Rosters and Final Adjusted Invoices


Senior Management
Corporate Finance
Legal & Compliance

*These are suggested departments only. Others may be appropriate for your firm.


The 1988-89 NASD broker-dealer and agent registration renewal cycle begins its second phase this month. Information in this notice is published to assist members in reviewing, reconciling, and responding to the final adjusted invoice packages that will be mailed to all firms in mid-January.


On or about January 13, 1989, the NASD will mail final adjusted invoices and renewal rosters to all NASD member firms. The invoice will reflect the year-end 1988 total of fees for NASD personnel assessments, NASD branch office fees, New York Stock Exchange (NYSE) and American Stock Exchange (Amex) maintenance fees, state agent renewal fees, and state broker-dealer renewal fees. It also will reflect payment submitted by an NASD member in response to the initial renewal invoice mailed in November 1988.

The final invoice will include a renewal roster that lists each firm's NASD and, if applicable, NYSE- and Amex-registered personnel as of year-end 1988. The roster also will list alphabetically all firm agents whose registrations were renewed in states. Firms with active NASD branch offices as of October 1, 1988, will receive a branch office roster in addition to the agent roster.

A member's final invoice will show an "amount due," a "credit due," or a "zero balance due." If a firm's year-end 1988 total of NASD, NYSE, Amex, and state renewal fees exceeded the firm's payment submitted in response to the initial renewal invoice, the NASD paid the additional renewal fees due at the year's end and will mail an "amount due" invoice to collect that amount. If your firm's invoice shows an amount due, please submit a check along with the top portion of the invoice and mail it in the return envelope provided. Payments should be received by the NASD no later than February 24, 1989.

If a firm's payment submitted in response to the initial renewal invoice exceeded its year-end 1988 total of NASD, NYSE, Amex, and state renewal fees, the NASD will issue a "credit due" invoice. If your firm's invoice shows a credit due and you wish it paid to your firm, please detach and sign the top portion of the invoice and send it to: Kelly O. Palmer, Special Registration Review, NASD, Inc., 9513 Key West Avenue, Rockville, Maryland, 20850. If the NASD doesn't receive a request for a refund check by February 24, 1989, it will apply the credit amount to your firm's CRD account.

Final invoices showing a zero balance due require no further action on the part of the member.


Member renewal rosters include all agent registrations renewed for 1989. Since registrations that were pending approval or were deficient at year-end 1988 were not assessed renewal fees, those registrations will not be reported on the renewal roster. Members should carefully examine their rosters to ensure that all registration approvals and terminations are reflected properly.

If discrepancies exist, they should be reported in writing along with supporting documentation, such as Notices of Approval/Termination, Forms U-4 or U-5, or Schedule E amendments. The discrepancy should be reported directly to the NASD, NYSE, Amex, or the applicable state. All renewal roster discrepancies should be reported by March 24, 1989.

The inside cover of the renewal roster contains detailed instructions to assist members in completing the renewal process.

Questions regarding this notice may be directed to NASD Information Services at (301)590-6500

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