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83-34 Western Pacific Securities, Inc. 1880 Century Park East Los Angeles, California
TO: All NASD Members
ATTN: Operations Officer, Cashier, Fail-Control Department
On Monday, July 11, 1983, the United States District Court for the Central District of California appointed a SIPC Trustee for the above-captioned firm. Previously, a temporary receiver had been appointed for the firm on July 1, 1983.
Members may use the "immediate close-out" procedures as provided in Section 59(i) of the NASD's Uniform Practice Code to close out open OTC contracts. Also, MSRB Rule G-12 (h)(iv) provides that members may use the above procedures to close out transactions in municipal securities.
Questions regarding the firm should be directed to:
Richard M. Neiter, Esquire
Stutman, Treister & Glatt
3701 Wilshire Boulevard
Los Angeles, California 90010
Telephone (213) 380-1360
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