Continuance in Membership (1017)
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Change of Control /  Change of Business Activities or Product Mix

NASD member firms planning to implement changes in Ownership, Control or Operations and those firms wanting to remove or modify restrictions placed on them by the NASD must file an application pursuant to NASD Membership Rule 1017. These filings can be quite extensive and may include a business plan, amended supervisory procedures, organizational charts and a continuing membership interview with the NASD District Office. In addition, Rule 1017 sets forth strict time frames for filing requested information with the District Office. SCA offers experienced personnel to prepare these filings and act as the liaison with the NASD staff during the approval process. 

SCA has successfully completed a number of CMA’s for a wide variety of firms. Our focus is to provide a complete application, initially, in order to expedite the process. Because of our experience in dealing with the NASD on CMA’s, SCA understands the factors used by the NASD in determining a decision; therefore, the application is structured accordingly.

The bottom line is this: Undue costs and delays can be avoided by engaging SCA to prepare your Change in Control or Ownership Application.