CIRCULAR 53 – NOTIFICATION OF STRICT APPLICATION OF PENALTIES FOR NON-COMPLIANCE WITH THE RULES OF NASD SECURITIES EXCHANGE

Upon the review of the activities of the NASD OTC Market in 2021, we observed that some Participating
Institutions continuously defaulted in complying with NASD’s Market Rules, particularly with respect to the
rendition of returns, payment of annual fees, contribution to the Trade Guarantee Fund and full
participation during NASD’s annual surveillance exercise.

For more details see here
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