*Letters

SIA Submits Comments to NASD on Amendments to the Branch Office Definition

Published on:
October 21, 2002

The Securities Industry Association (SIA)* provides comments to the National Association of Securities Dealers, Inc. (NASD) on proposed amendments to NASD Branch Office Definition [Rule 3010(g)(2)], NASD Notice to Members 02-52. The amendments are designed to achieve uniformity among the Self-Regulatory Organizations (SROs) and state regulators and consistency with the Securities and Exchange Commission’s (SEC’s) new books and records rules. SIA believes the proposed changed would require substantial firm reorganization, including the creation of numerous new supervisory positions, at significant incremental cost with little or no incremental investor protection.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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