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Is NASD Rule 1017 applicable if the change of ownership occurs in increments of less than 25 percent?

April 26, 2017applicable increments NASD occurs ownership rule

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Is NASD Rule 1017 applicable if the change of ownership occurs in increments of less than 25 percent?

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A5. NASD Rule 1017 is not limited to changes that occur all at once. The rule is triggered when the change, whether in increments or otherwise, results in one person or entity owning or controlling 25 percent or more of the equity or partnership capital of the firm for the first time.