FINRA Manual: Contents
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For Your Information For April
Important Year 2000 Information
Based on milestones published by the Securities Industry Association (SIA), securities firms at this time should have a comprehensive Year 2000 program plan in place and be actively certifying third-party products and service providers for Year 2000 readiness. Firms also need to begin completing the repairs to any of their internal applications and testing these systems. It is vital that each National Association of Securities Dealers, Inc. (NASD®) member firm that intends to continue its operations into the Year 2000 have a comprehensive Year 2000 plan in place that addresses both internal and external systems and products. These activities are essential in order to ensure continued successful operation in the markets, and compliance with rules and regulations.
Furthermore, any NASD member firm that completed neither the NASD Regulation, Inc. "Year 2000 Compliance Survey" (distributed in the December 1997 NASD Special Notice to Members 97-96) due in January of this year, nor the New York Stock Exchange Year 2000 survey, should do so immediately. NASD RegulationSM will soon be notifying members that have failed to supply this critical information through its compliance survey that if they continue to be delinquent, they are subject to disciplinary action for violation of NASD Rule 8210 (Provision of Information and Testimony and Inspection and Copying of Books).
Via NASD Notices to Members, the NASD will continue to provide monthly updates about the Year 2000 challenge and issues of importance to members. For further information, visit the Year 2000 Web pages on both the NASD Regulation Web Site (www.nasdr.com) and the NASD Web Site (www.nasd.com); or contact Lyn Kelly at the NASD Year 2000 Program Office, at (301) 590-6342, or via e-mail at firstname.lastname@example.org.
Also, don't forget to join NASD Regulation May 20-22 at its Spring Securities Conference in Washington, D.C., where Year 2000 issues will be prominently featured. Also in May, NASD Regulation will be conducting Year 2000 Roadshows for NASD member firms. These sessions, to be held throughout the NASD Districts, will be educational forums to discuss members' Year 2000 concerns.