NASD Exempts Five Firms From G-37 B an

Hume, Lynn
March 2006
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, p1
Trade Publication
The article reports that the National Association of Securities Dealers (NASD) has exempted five broker-dealer firms from the Rule G-37's two-year ban on municipal securities business. JPMorgan had obtained an NASD exemption from a two-year ban on business with New York. The background on the JPMorgan case is discussed. Under the rule's look-back provision, a temporary ban on municipal business is triggered if a firm hires someone for a supervisory or management-level position who has made contributions to issuer officials during the past six months.


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