New Investment Advisers' Qualification Exams Now In Use

Two qualification examinations for investment advisers have recently been updated. New versions of the Series 65 (Uniform Investment Adviser Law Exam) and Series 66 (Uniform Combined State Law Exam) exams became effective on January 1, 2000. The revised Series 65 covers economics, investment vehicles, and investment strategies, as well as securities law and ethics. Applicants will have 180 minutes to complete the 130 multiple choice question exam. The exam fee is $110.

Series 55 Exam Grace Period Expires May 1, 2000

FOCUS Filing Dates

NASD Regulation, Inc. (NASD Regulation^SM) would like to remind members of their obligation to file the appropriate FOCUS reports by their due dates. The following schedule outlines remaining due dates for 2000 reports. Questions regarding the information to be filed can be directed to the appropriate District Office. Business questions as to how to file the FOCUS report, resetting passwords, and technical questions concerning system requirements, file uploads, and submission problems for Web-Based FOCUS can all be directed to (800) 321-NASD.

Staff Relocations

Over the next several months, some NASD Regulation, Inc. (NASD Regulation^SM) and National Association of Securities Dealers, Inc. (NASD^®) staff will be moving from Washington, D.C. to a new location in Rockville, Maryland. The move will be conducted in a staggered fashion beginning early July, with completion expected in the fall of this year. This relocation plan affects over 1,300 employees and contractors in the Washington and Rockville areas.

Nasdaq Postpones SuperSoes Until Fourth Quarter 2000

The Nasdaq Stock Market, Inc. announced last month that the introduction of the Nasdaq National Market Execution System (SuperSoes^SM) and modifications to SelectNet^® have been postponed until the fourth quarter of 2000.

NASD Regulation Delays Implementation Date Of Phase III Of OATS From October 31, 2000 To December 15, 2000

On August 30, 2000, NASD Regulation, Inc. (NASD Regulation^SM ) filed with the Securities and Exchange Commission (SEC) for immediate effectiveness a rule proposal that extends the implementation date of Phase III of the Order Audit Trail System (OATS^SM) to December 15, 2000. As provided under NASD Rule 6957, Phase III applies the recording and reporting requirements under the OATS Rules to all manual orders.

Filing Due Dates For Web-Based FOCUS, Annual Audits, Customer Complaint Information, And Short Interest Reporting

For Your Information

Final Renewal Statements

Member firms' Final Renewal Statements became available in Web CRD on January 2, 2001. All payments or requests for refunds must be received by March 16, 2001. Final Renewal Statements can be retrieved under the "Renewals" menu item in Accounting. Also, all Final Renewal Rosters are available in Web CRD for viewing and printing in the firm's ReportMart.

For Your Information

Decimalization And Qualification Exams

For Your Information

International Testing Delivery

NASD Regulation is now offering delivery of computerized testing and Continuing Education Session 2-101 (the General Securities Representative Program) in Europe and the Pacific Rim.

Computerized delivery is offered in the following countries:

Sydney, Australia

Hong Kong, China

Paris, France

Frankfurt, Germany

Tokyo, Japan

Seoul, South Korea