Datron inc liquidating trust
Except as provided in Part II, Section (l)(c) hereof, a person designated pursuant to the provisions of Part II, Section (2)(c) hereof shall not be required to take the Limited Principal-Introducing Broker-Dealer Financial and Operations examination and shall be qualified for registration as a Limited Principal-Introducing Broker-Dealer Financial and Operations if such a person is qualified to be registered or is registered as a Limited Principal-Financial and Operations as defined in Part II, Section (2)(b)(ii) hereof.
A person registered solely as a Limited Principal-Introducing Broker-Dealer Financial and Operations shall not be qualified to function in a principal capacity with responsibility over any area of business activity not prescribed in Part II, Section (2)(c)(ii) hereof.
— Members may only compensate Assistant Representatives-Order Processing on an hourly wage or salaried basis and may not in any way, directly or indirectly, relate their compensation to the number or size of transactions effected for customers.
This provision shall not prohibit persons registered in this capacity from receiving bonuses or other compensation based on a member's profit sharing plan or similar arrangement.
Questions regarding the Series 28 program may be directed to Carole Hartzog, Senior Qualifications Analyst, at (301) 590-6696.
SCHEDULE C TO THE NASD BY-LAWS (Note: New text is underlined; deleted text is in brackets.) (i) An applicant for membership in the Corporation, except a sole proprietorship, shall have at least two officers or partners who are qualified to become registered as principals with respect to each aspect of the applicant's investment banking and securities business pursuant to the provisions of Part II, Section 2(a), [2(c)] (iii) In addition to the provisions of Part II Section (l)(e)(i) hereof, an applicant for membership, if the nature of its business so requires shall have at least one person qualified for registration pursuant to Part II, Section 2(b), 2(c), and 2(e) 2(f) hereof.
LIMITED PRINCIPAL-INTRODUCING BROKER-DEALER FINANCIAL AND OPERATIONS (Series 28) The NASD Board of Governors, in November 1988, approved a new category of financial and operations principal registration for introducing member firms.
Study outlines may be ordered for each from the Book Order Department at the aforementioned address (add 20 percent for first class postage).
The contra side on any transaction, including trades in NASDAQ National Market issues, will be allowed 20 minutes from the time of execution to accept or decline the ACT report.
The information submitted by the market maker must indicate whether it acted as a buyer or seller, the quantity, security symbol, price, and the identity of the contra party.
Every member of the Corporation, which is operating pursuant to the provisions of SEC Rule 15c3-l (a)(2)(i) or (vi) and to the provisions of SEC Rule 15c3-3(k)(2)(ii), shall designate as Limited Principal-Introducing Broker-Dealer Financial and Operations those persons associated with it, at least one of whom shall be its chief financial officer, who perform the duties described in Part II, Section (2)(c)(ii) hereof.
Each person associated with a member who performs such duties shall be required to register as a Limited Principal-Introducing Broker-Dealer Financial and Operations with the Corporation and shall pass an appropriate Qualification Examination before such registration may become effective.