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3013. Annual Certification of Compliance and Supervisory Processes


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This rule is no longer applicable. NASD Rule 3013 has been superseded by FINRA Rule 3130. Please consult the appropriate FINRA Rule.

(a) Designation of Chief Compliance Officer(s)
Each member shall designate and specifically identify to NASD on Schedule A of Form BD one or more principals to serve as a chief compliance officer.
(b) Annual Certification
Each member shall have its chief executive officer(s) (or equivalent officer(s)) certify annually,1 as set forth in IM-3013, that the member has in place processes to establish, maintain, review, test and modify written compliance policies and written supervisory procedures reasonably designed to achieve compliance with applicable NASD rules, MSRB rules and federal securities laws and regulations, and that the chief executive officer(s) has conducted one or more meetings with the chief compliance officer(s) in the preceding 12 months to discuss such processes.

1 Rule 3013 and IM-3013 became effective on December 1, 2004, which would require a member's first certification to be executed by December 1, 2005 and annually thereafter; however, a member may elect to execute its first certification by no later than April 1, 2006 and annually thereafter.

Amended by SR-NASD-2007-049 eff. July 16, 2007.
Amended by SR-NASD-2005-121 eff. Oct. 14, 2005.
Adopted by SR-NASD-2003-176 eff. Dec. 1, 2004.

Selected Notices: 04-79, 07-32.

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