SIA Submits Comments to the NASD on a Proposal to Require Firms to Adopt Heightened Supervision Plans
Published on:
October 17, 2003
The Securities Industry Association (SIA)* provides comments to the National Association of Securities Dealers, Inc.(NASD) on a proposal relating to require forms to adopt heightened supervision plans for associated persons who meet or exceed threshold numbers of industry or regulatory-related incident. SIA supports strong uniform guidance for imposition of closer supervision of associated persons who demonstrate a pattern of misconduct. SIA suggests the NASD limit the scope of the rule to sale practice abuses, as reported on uniform Forms U-4 and U-5.
*SIFMA is the product of a merger between the Securities Industry Association (SIA.) and The Bond Market Association (TBMA) in 2006.