*Letters

NASDR Proposed Changes to the Conduct Rule Governing Clearing Agreements

Published on:
December 1, 1997

The Clearing Firms Committee, the Local Firms Committee and the Ad Hoc Clearing Subcommittee of the Securities Industry Association (SIA)* provides comments to National Association of Securities Dealers Regulation, Inc. (NASDR) on proposed amendments to NASDR Conduct Rule 3230 governing clearing arrangements, NASDR Notice to Members 97-79.  SIA notes the amendments closely parallel amendments to the New York Stock Exchange (NYSE) Rule 382 which were filed with the Securities and Exchange Commission (SEC) in September of 1997. SIA offers observations and recommendations based on where the amendments to NASDR Conduct Rule and NYSE Rule 382 differ.

*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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