{"abstract":null,"action":"As a result of Nasdaq's anticipated separation from the NASD, the proposed rule change deletes Rule 4420, which primarily involves quantitative listing criteria for Nasdaq National Market securities. However, existing Rule 4420(g)(5) describes an obligation on the part of the Association to distribute a circular to member firms that provides guidance when handling Hybrid Securities and Selected Equity-linked Debt Securities (\"SEEDS\") transactions. Since that provision applies to the NASD and is regulatory in nature, it has been retained and moved to IM-2310-2. The proposed rule change also would allow either Nasdaq or the NASD to distribute the compliance circular.","agencies":[{"raw_name":"SECURITIES AND EXCHANGE COMMISSION","name":"Securities and Exchange Commission","id":466,"url":"https://www.federalregister.gov/agencies/securities-and-exchange-commission","json_url":"https://www.federalregister.gov/api/v1/agencies/466","parent_id":null,"slug":"securities-and-exchange-commission"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/2002/01/03/01-31481.html","cfr_references":[],"citation":"67 FR 388","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":null,"disposition_notes":null,"docket_ids":["Release No. 34-45156","File No. SR-NASD-2001-90"],"dockets":[],"document_number":"01-31481","effective_on":null,"end_page":455,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":"https://www.federalregister.gov/documents/full_text/xml/2002/01/03/01-31481.xml","html_url":"https://www.federalregister.gov/documents/2002/01/03/01-31481/self-regulatory-organizations-notice-of-filing-of-proposed-rule-change-by-the-national-association","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/01-31481?publication_date=2002-01-03","mods_url":"https://www.govinfo.gov/metadata/granule/FR-2002-01-03/01-31481/mods.xml","not_received_for_publication":null,"page_length":68,"page_views":{"count":164,"last_updated":"2026-09-20 10:15:04 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-2002-01-03/pdf/01-31481.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"2002-01-03","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/2002/01/03/01-31481.txt","regulation_id_number_info":{},"regulation_id_numbers":[],"regulations_dot_gov_info":{},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":388,"subtype":null,"title":"Self-Regulatory Organizations; Notice of Filing of Proposed Rule Change by the National Association of Securities Dealers, Inc. Relating to Nasdaq's Proposed Separation From the NASD and the Establishment of the NASD Alternative Display Facility","toc_doc":"National Association of Securities Dealers, Inc.","toc_subject":"Self-regulatory organizations; proposed rule changes:","topics":[],"type":"Notice","volume":67}