| A# |
5870 |
| P&S #: |
5440 |
| DATE: |
July 30, 2004 |
| TO: |
ALL PARTICIPANTS |
| ATTENTION: |
MANAGING PARTNER/OFFICER, OPERATIONS PARTNER/OFFICER, DIRECTOR OF OPERATIONS, DATA PROCESSING MANAGER, MANAGER P&S DEPARTMENT |
| FROM: | Karen L. Saperstein |
| SUBJECT: | RULE CHANGE - NOTICES |
On July 26, 2004, the U.S. Securities and Exchange Commission (“SEC”) approved a rule change (SR-NSCC-2003-05) filed by National Securities Clearing Corporation (“NSCC” or the “Corporation”) that modified NSCC’s Rules & Procedures with regard the method by which NSCC may issue notices to participants (see Release No. 34-50085).
Participants are advised that effective immediately, NSCC will no longer issue Important Notices to participants in hard copy form. These Notices are available in electronic format on NSCC’s website (www.nscc.com/impnot), and except as set forth below, participants will now be required to access the website throughout each day to view them.
Important Notices issued by NSCC to all participants pursuant to Rule 18 (Procedures For When the Corporation Declines or Ceases to Act) will not only be available on NSCC’s website, but will also be sent to a participant via electronic mail. NSCC may also choose to send hearing notices and disciplinary notices via e-mail in lieu of mailing them to the participant’s offices.
Questions regarding this notice should be directed to your Relationship Manager.
Karen L. Saperstein
Managing Director and General Counsel