NASD Issues Exemptions

Hume, Lynn
February 2005
Bond Buyer;2/25/2005, Vol. 351 Issue 32078, p1
Trade Publication
This article reports that the National Association of Securities Dealers (NASD) has exempted two firms from Rule G-37's temporary ban on engaging in municipal securities business with issuers after officials of the issues each received $1,000 contributions from the firms' municipal finance professionals. The two exemption letters were recently released by the NASD and appear on the Web site www.nasd.org. Under the rule, a dealer is banned from engaging in any negotiated municipal securities business with an issuer for two years if the firm or its muni finance professionals make significant political contributions to issuer officials who can influence the award of bond business.


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