October 19, 1989
TO: SEC RULES MEMBERS NO. 60-89
CLOSED-END FUND MEMBERS NO. 58-89
INVESTMENT ADVISER MEMBERS NO. 52-89
INVESTMENT ADVISER ASSOCIATE MEMBERS NO. 53-89
STATE SECURITIES MEMBERS NO. 36-89
UNIT INVESTMENT TRUST MEMBERS NO. 57-89
BROKER/DEALER ADVISORY COMMITTEE NO. 48-89
RE: NASD RAISES FEES FOR ITS MEMBERS
__________________________________________________________
Pursuant to section 19b-1 of the Securities Exchange Act of
1934, the National Association of Securities Dealers filed rule
changes with the Securities and Exchange Commission. The changes
which were made to the NASD By-Laws, have significantly affected
various fees for NASD members.
As explained in the attached release, the annual assessment
for NASD members will be an additional $350. Additionally, there
are increases in the fees for initial applications, examinations
and for certain service changes. In particular, the service fee
charged for the review of sales literature and advertisements
submitted to the NASD Advertising Department has been raised from
$15 to $25 per package.
The rule changes were made effective immediately.
Susan S. Burgess
Legal Assistant
Attachment