* See Memorandum to SEC Rules Members No. 47-97 and Bank Mutual Fund Task Force dated July 2, 1997.
July 22, 1997
TO: SEC RULES COMMITTEE No. 72-97
BANK MUTUAL FUND TASK FORCE
RE: INSTITUTE COMMENT LETTER ON NASD PROPOSAL TO AMEND
DEFINITION OF BRANCH OFFICE
______________________________________________________________________________
The Institute recently submitted the attached comment letter to the Securities and
Exchange Commission regarding the National Association of Securities Dealers, Inc.s proposal
to amend its Conduct Rule 3010 to create an additional exception to the definition of the term
"branch office."* The proposed change would exempt from the definition of branch office
certain locations where a person conducts business for the member firm occasionally and by
appointment only for the convenience of customers, subject to certain conditions. As discussed
in the attached letter, the Institute supports this proposal.
Joseph P. Savage
Assistant Counsel
Attachment (in .pdf format)