Bankers waiting for the National Association of Securities Dealers to release the revised version of its bank broker-dealer rules will have to hold on a little longer.

The NASD's bank-broker dealer committee convened by conference call last Friday to fine-tune the language in the proposed rules, according to a representative of the trade group.

The proposed rules have since been passed along to NASD's legal counsel for final modification and will be filed with the Securities and Exchange Commission by the end of October, the representative said.

At that time the NASD will issue a notice to members concerning the rules. Following the SEC's review and possible further revision, the rules will be published in the Federal Register for public comment.

NASD's original notice of bank broker-dealer rules, released last December, triggered consternation among bank brokerage executives. A bank broker-dealer committee was formed in January and worked with NASD staff to revise the proposal. NASD's Board of Governors approved the revised rules on September 18.

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