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93-4 1993 Renewal Rosters And Final Adjusted Invoices


Senior Management
Legal & Compliance

Executive Summary

The 1992-93 NASD® broker/dealer and agent registration renewal cycle begins its second phase this month. The NASD is publishing information in this Notice to assist members in reviewing, reconciling, and responding to the Final Adjusted Invoice packages that were mailed to all member firms in mid-January.

Final Adjusted Invoice Packages

On or about January 13, 1993, the NASD mailed final adjusted invoices and renewal rosters to all NASD member firms. The invoice reflects year-end 1992 total fees for NASD personnel assessments; NASD branch-office assessments; New York Stock Exchange (NYSE), American Stock Exchange (ASE), Chicago Board Options Exchange (CBOE), and Pacific Stock Exchange (PSE) maintenance fees; state agent renewal fees; and state broker/dealer renewal fees. It also reflects payment submitted by an NASD member in response to the initial renewal invoice mailed in November 1992.

The final invoice includes a renewal roster that lists each firm's NASD and, if applicable, NYSE-, ASE-, CBOE-, and PSE-registered personnel as of year-end 1992. In addition, the roster lists alphabetically all firm agents whose registrations were renewed in states. Firms with registered branch offices that were active as of December 31, 1992, will receive a branch-office roster in addition to the agent roster.

A member's final invoice shows an "amount due," a "credit due," or a "zero balance due." If a firm's yearend 1992 total of NASD, NYSE, ASE, CBOE, PSE, 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 year-end on behalf of the member and will mail an "amount due" invoice to collect that sum.

If your invoice shows an amount due, please submit payment in the form of a check made payable to the National Association of Securities Dealers, Inc. The check should be drawn on the member firm's bank account, with the firm's Central Registration Depository (CRD) number included on the check. Submit the check along with the top portion of the invoice and mail it in the return envelope provided. Payments must be received by the NASD no later than March 12, 1993.

If the firm's payment submitted in response to the initial renewal invoice exceeded its year-end 1992 total of NASD, NYSE, ASE, CBOE, PSE, and state renewal fees, a "credit due" invoice was issued. If your firm's invoice shows a credit due of $100.00 or more and you would like it paid to your firm, please detach and sign the top portion of the invoice and send it to Wendy L. Cook, Special Services, NASD, Inc., 9513 Key West Avenue, Rockville, Maryland 20850. This invoice stub must be signed by an officer or principal of your firm. In addition, please note somewhere on your invoice stub the name and address of the firm's contact to whom the NASD should send the check. Refund checks will be mailed to members within three weeks of the date the NASD receives a signed invoice stub. If the NASD does not receive a check refund request by March 12, 1993, the credit amount will be applied to your firm's CRD account. Amounts under $100.00 will be automatically credited to your firm's CRD account during the week of March 15, 1993.

A final adjusted invoice with a zero balance requires no further action by the member.

Reviewing the Renewal Roster

Member renewal rosters include all agent registrations renewed for 1993. Since registrations pending approval or deficient at year-end 1992 were not assessed renewal fees, those registrations are not reported on the renewal roster.

Members should examine their rosters carefully to ensure that all registration approvals and terminations are reflected properly.

If discrepancies exist, report them in writing along with supporting documentation, such as Notices of Approval/Termination, Forms U-4 or U-5, or Schedule E amendments. Report the discrepancies directly to the NASD, NYSE, ASE, CBOE, PSE, or the applicable state. All renewal roster discrepancies must be reported by March 19, 1993.

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

On or about January 5, 1993, the South Dakota Division of Securities moved to 118 W. Capitol, Pierre, South Dakota 57501-5070. The address listed on the back cover of your firm's renewal roster is incorrect.

Questions regarding this Notice may be directed to NASD Member Services Phone Center at (301) 590-6500.

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