August 2, 1989
TO: SEC RULES MEMBERS NO. 35-89
UNIT INVESTMENT TRUST MEMBERS NO. 41-89
BROKER/DEALER ADVISORY COMMITTEE NO. 36-89
CLOSED-END FUND MEMBERS NO. 32-89
RE: NASD SUPERVISORY PROCEDURES
__________________________________________________________
Attached is the July NASD Alert, which includes on pages 7-
9 a useful compilation of questions and answers on the recently
amended NASD supervisory rules. You should note that on page 6
of the Alert, the NASD warns firms that have not already adopted
procedures under the Insider Trading and Securities Fraud
Enforcement Act of l988 to take immediate action to establish
such procedures.
Amy B. Rosenblum
Assistant General Counsel
Attachment