*Letters

SIA and TBMA Submit Comments to the NASD on a Proposal Creating a Chief Compliance Officer and Chief Executive Officer Certification Requirement

Published on:
July 18, 2003

The Securities Industry Association (SIA)* and The Bond Market Association (TBMA)* provide comments to the National Association of Securities Dealers, Inc(NASD) on a proposalcreating achief compliance officer and chief executive officer certification requirement. SIA supports a rule amendment that ensures all member firms embrace and advance the goals of the rule proposal. SIA believes the current form of the proposal may not achieve the intended results and suggestsa regular communication forum, such as documented periodic meetings between the firm’s senior management and appropriate compliance professionals for purposes of assessing the firm’s overall supervisory and compliance posture.
*SIFMA is the product ofa merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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