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To: Morpher who wrote (6965)	4/15/1999 4:33:00 PM
From: Morpher	Read Replies (1) \| Respond to of 12617

Special NASD Notice to Members 99-32 nasdr.com NASD Regulation Requests Comment On Proposed Rules Regarding Approval Procedures For Day-Trading Accounts, Including Appropriateness Determinations, And Disclosure Of Risks Of Day-Trading Activities; Comment Period Expires May 31, 1999 Executive Summary NASD Regulation, Inc. (NASD Regulation®) is requesting comment from members and other interested parties on proposed rules that would require a firm that has recommended a day-trading strategy to an individual to approve the individual's account for day trading. As part of the account approval process, the firm would be required to determine that the strategy is appropriate for the customer and to provide a disclosure statement to the customer discussing the risks of day trading. A companion Special Notice to Members issued today, Special Notice to Members 99-33, discusses current margin requirements and steps that firms are taking to increase maintenance margin requirements for certain volatile stocks. Special Notice to Members 99-33 also solicits comment on the use of margin during volatile market conditions, as well as the use of margin by individuals engaging in day-trading activities.