Snail Mail Too Slow, NASD Going Digital on Bulletins

The National Association of Securities Dealers plans to stop automatically mailing free copies of its periodicals to broker- dealers.

Starting Jan. 1 the NASD will require that every firm have an Internet e-mail address, R. Clarke Hooper reminded a group of bank brokerage compliance officials attending an industry conference here last week. Ms. Hooper is executive vice president for disclosure and investor protection at NASD Regulation.

The chief reason given by the NASD for the change to electronic messaging is that it is more timely.

The two major communications sent out by the NASD are its Notice to Members and Regulatory and Compliance Alert, which alerts broker-dealers to rule changes.

Ms. Hooper said that bank brokerages will have the option of subscribing to hard copies of the material if they wish to continue receiving them in that form.

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