FINRA Manual: Contents
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87-84 Annual State, Agent, and Broker-Dealer Renewals for 1988
TO: All NASD Members and Other Interested Persons
ALL STATE, AGENT, AND BROKER-DEALER RENEWAL FEES MUST BE RECEIVED BY THE NASD NO LATER THAN DECEMBER 18, 1987, IF YOUR FIRM INTENDS TO CONTINUE DOING BUSINESS IN 1988. PLEASE NOTE THE FOLLOWING:
Invoices for the 1987-1988 renewal cycle have been mailed to your firm. The invoices include annual fees that must be paid to allow business to be conducted from January 1, 1988, through December 31, 1988, in states in which your firm is licensed. The invoices apply to NASD personnel assessments, NASD branch office fees, New York Stock Exchange maintenance fees, state agent renewal fees, state broker-dealer renewal fees, and annual SIPC assessments. In addition, investment advisors currently registered under the Virginia Investment Advisor Pilot Program were also assessed.
Firms are reminded that full payment of the invoice must be received no later than December 18, 1987, if your firm intends to continue doing business in 1988. FAILURE TO DO SO WILL MEAN LOSS OF ELIGIBILITY TO DO BUSINESS IN THE STATES, EFFECTIVE JANUARY 1, 1988.
No adjustments should be made to the invoice. The full amount noted on the invoice must be remitted. At year end, a final calculation will be made of all renewal fees owed by your firm. If your firm has more agents registered at year end than on the November invoice date, additional fees will be assessed and reflected on the adjusted invoice mailed to your firm in January 1988. Similarly, your firm will be credited if it has fewer registered personnel at year end than in November.
Please refer to the Q&R REPORT, Volume 7, Number 9, dated November 12, 1987, for additional information.
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