Comment Letters

May 4, 2012
CFTC and SEC RIN: 3235-AL26: Identity Theft Red Flags Rules

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Jeffrey O. Himstreet, for their effort:
Mark J. Happe, MMC Securities Corp.
Jeffrey O. Himstreet, Bingham McCutchen LLP
J. Christopher Jackson, Calamos Investments
Nancy Johnson-Jones, Strategic Compliance Concepts
Nancy Lininger, The Consortium
Daniel A. Murphy, PlanMember Securities
Z. Jane Riley, The Leaders Group, Inc. / TLG Advisors, Inc.
Henry Sanchez, Jr., Oyster Consulting, LLC

May 4, 2012
FinCEN RIN 1506-AB15: Customer Due Diligence Requirements for Financial Institutions

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in
particular Ethan H. Cohen, for their effort:
Kenneth M. Cherrier, Waddell & Reed
Ethan H. Cohen, Ballard Spahr LLP
Keisha O. Coleman; Ballard Spahr LLP
James R. Downing, JPMorgan Chase
Catherine A. Hanley, TD Securities (USA) LLC
Mark R. Hastings, Prudential Financial
Daniel A. Murphy, PlanMember Securities Corporation
James A. Nofi, Law Office of James A. Nofi, LLC
Marcel S. Pratt, Ballard Spahr LLP
Peter von Maur, RBC Capital Markets, LLC

April 27, 2012
FINRA Reg. Notice 12-10: Ways to Facilitate and Increase Investor Use of BrokerCheck Information

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Theodore J. Sawicki and Andrew T. Sumner, for their effort:
Dave Banerjee, RND Resources, Inc.
Kenneth M. Cherrier, JD, Waddell & Reed
Lisa D. Crossley, NSCP
Stephen B. Grey Jr., HF Financial (MML Investors, Inc.)
Patricia M. Harrison, Simmons & Company International
Mark R. Hastings, Prudential Investment Management Services LLC
Diane P. Novak, Toyota Financial Services
Wesley L. Ringo, J.J.B. Hilliard, W.L. Lyons, LLC
David E. Rosedahl, Briggs & Morgan
Henry Sanchez Jr., Oyster Consulting, LLC
Theodore J. Sawicki, Alston & Bird LLP
David H. Smith, USAA Financial Advisors Inc.
Holly H. Smith, Sutherland Asbill & Brennan LLP
David M. Sobel, Abel/Noser Corp.
Andrew T. Sumner, Alston & Bird LLP
Peter von Maur, RBC Capital Market, LLC
Jennifer Woods Burke, CompliGuide, LLC

January 30, 2012
SEC Dismisses Case Against Theodore W. Urban


On January 26, 2012, the United States Securities and Exchange Commission dismissed the case against Theodore Urban, the once general counsel for the former Ferris Baker Watts LLC. Urban was accused of "failing to supervise" a rogue broker at the firm, whom he later fired. The dismissal leaves open the legal question of whether compliance professionals and legal staff who make recommendations concerning employee conduct should be deemed supervisors.

Joan Hinchman, Executive Director of NSCP, stated to Thomas Reuters that, "the thinking of the Commission is still unknown."

Click here to read the Thomas Reuters article summarizing the Theodore W. Urban enforcement case.

November 14, 2011
SR-FINRA-2011-057: Proposed Rule Change to Adopt New FINRA Rule 5123 (Private Placements of Securities)

NSCP would like to thank Margaret R.A. Paradis of Morris, Manning & Martin, LLP for her effort.

October 6, 2011
SEC Request for Information concerning Retrospective Review of Existing Regulations (File No. 87-36-11)

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular David H. Smith, for their effort:
Glen P. Barrentine, Cadwalader, Wickersham & Taft LLP
Lisa Crossley, National Society of Compliance Professionals
J. Christopher Jackson, Calamos Investments
Deborah A. Lamb, McKinley Capital Management, Inc.
Martha J. Matthews, Matthews Lindsay Wolf Inc.
Diane P. Novak, Toyota Financial Services
David E. Rosedahl, Briggs & Morgan
Peter von Maur, RBC Capital Markets, LLC
Jeff Ziesman, Bryan Cave LLP

July 20, 2011
Comment to SEC on Proposed FINRA Rule 3110 (File Number SR-FINRA-2011-028)

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular David H. Smith, for their effort:
A. Brad Busscher; Incapital LLC
Richard T. Chase; RBC Capital Markets, LLC
Kenneth M. Cherrier; Waddell & Reed
Patricia M. Harrison; Simmons & Company International
Brandon L. Klerk; Incapital LLC
James A. Nofi; Law Office of James A. Nofi, LLC
Diane P. Novak; Toyota Financial Services
Denise O'Hara; Prudential
Z. Jane Riley; The Leaders Group, Inc.
David H. Smith; USAA Financial Advisors, Inc.
Kenneth L. Wagner; William Blair & Company, LLC
Jennifer Woods Burke; AXA Equitable

May 13, 2011
Comment to FINRA on Proposed Rule 3190 to Clarify Scope of a Firm's Obligations, Supervisory Responsibilities for Functions or Activities Outsourced to Third-Party Service Provider

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Peter von Maur, for their effort:
Gregory Amoroso; Sutherland
Thomas Bielskas; Prudential
Richard T. Chase; RBC Capital Markets, LLC
Beverly Fetcko; Regulatory Compliance, LLC
David Fischer-Lodike; Edward Jones Investments
Susan Hechtlinger; SunTrust Investment Services, Inc.
James Nofi; Law Office of James A. Nofi, LLC
Denise O'Hara; Prudential
Henry Sanchez Jr.; Oyster Consulting, LLC
Jeffrey Suhanic; PNC Investments
Peter von Maur; RBC Capital Markets, LLC

April 8, 2011
Registration and Qualification Requirements for Certain Operations Personnel

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Peter von Maur, for their effort:
A. Brad Busscher; Incapital LLC
Richard T. Chase; RBC Capital Markets, LLC
Lisa Crossley; NSCP
Patricia M. Harrison; Simmons & Company International
Maria Malark; RBC Capital Markets, LLC
Christopher Meitz; Scottrade, Inc.
Steven B. Price, ALPS Inc.
Z. Jane Riley; The Leaders Group, Inc.
Gigi Szekely; Eaton Vance Managed Investments
Peter von Maur; RBC Capital Markets, LLC

February 4, 2011
CFTC Proposal for Implementing the Whistleblower Provisions of Section 23 of the Commodity Exchange Act - RIN 3038-AD04

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Glen P. Barrentine, for their effort:
Glen P. Barrentine; Cadwalader, Wickersham & Taft LLP
Richard T. Chase; RBC Capital Markets, LLC
James A. Nofi; Law Office of James A. Nofi, LLC
Henry Sanchez Jr.; Oyster Consulting, LLC
Holly H. Smith; Sutherland Asbill & Brennan LLP

January 18, 2011
CFTC Proposal: Designation of a Chief Compliance Officer; Required Compliance Policies; and Annual Report of a Futures Commission Merchant, Swap Dealer, or Major Swap Participant

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Richard D. Marshall, for their effort:
Lee D. Augsburger, CSCP; Prudential Financial
Glen P. Barrentine; Cadwalader, Wickersham & Taft LLP
Richard T. Chase; RBC Capital Markets Corporation
Richard D. Marshall; Ropes & Gray LLP
Martha J. Matthews; Reg. Library
James A. Nofi; Law Office of James A. Nofi, LLC
Henry Sanchez, Jr.; Oyster Consulting, LLC
Charles V. Senatore, CSCP; Fidelity Investments

December 23, 2010
Concept Proposal Regarding Requiring a Disclosure Statement for Retail Investors at or Before Commencing a Business Relationship (FINRA Regulatory Notice 10-54)

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular David E. Rosedahl, for their effort:
Michael Burns; PrimeVest Financial Services
A. Brad Busscher; Incapital LLC
Christopher C. Cleveland; Briggs and Morgan
Jeffrey O. Himstreet; Ameriprise Financial, Inc.
Ruth Howell; Questar Capital
Diane P. Novak; Toyota Financial Services
Amie Penny; Briggs and Morgan
Thomas K. Potter, III; Burr & Forman, LLP
David E. Rosedahl; Briggs and Morgan
Henry Sanchez Jr.; Oyster Consulting, LLC
Theodore J. Sawicki; Alston & Bird LLP
Sylvia M. Scott; Freeman, Freeman & Smiley LLP
David Smith; USAA Financial Advisors, Inc.
Kenneth L. Wagner; William Blair & Company, LLC
Steve Youhn; Lincoln Financial Network

December 16, 2010
SEC Proposed Rules for Implementing the Whistleblower Provisions of Section 21F of the Securities Exchange Act of 1934 (File No.: S7-33-10)

NSCP would like to thank the members of the NSCP Ad Hoc Committee, and in particular Glen P. Barrentine, for their effort:

Glen P. Barrentine; Cadwalader, Wickersham & Taft LLP
Richard T. Chase; RBC Capital Markets Corporation
Kenneth M. Cherrier; Waddell & Reed
Richard J. Davis; Maynard, Cooper & Gale, PC
Mark J. Happe; MMC Securities Corp.
Timothy J. Knierim; Prudential Investment Management
James A. Nofi; Law Office of James A. Nofi, LLC
Diane P. Novak; Toyota Financial Services
Henry Sanchez Jr.; Oyster Consulting, LLC
Holly H. Smith; Sutherland Asbill & Brennan LLP
David M. Sobel; Abel / Noser Corp.

(8.30.10) FINRA Proposed Rule 4530 (Reporting Requirements)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Anne Flannery, for their effort:
Torstein M. Braaten; ITG Canada Corp.
A. Brad Busscher; Incapital LLC
Richard T. Chase; RBC Capital Markets Corporation
Kenneth M. Cherrier; Waddell & Reed, Inc.
Lisa Crossley; National Society of Compliance Professionals (NSCP)
Jerry C. Danielson; Lincoln Financial Group
Anne C. Flannery; Morgan, Lewis & Bockius LLP
Mark R. Hastings; Prudential Financial
Laurie Hockenberry; State Farm VP Management Corp.
Diane P. Novak; Toyota Financial Services
David Rosedahl; Briggs & Morgan
Holly H. Smith; Sutherland Asbill & Brennan LLP
Peter von Maur; RBC Capital Markets Corporation
Kenneth L. Wagner; William Blair & Company, LLC

(7.30.10) FINRA Regulatory Notice 10-25: Registration and Qualification Requirements for Certain Operations Personnel
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Holly H. Smith, Richard Chase and Peter von Maur, for their effort:
Torstein M. Braaten; ITG Canada Corp.
A. Brad Busscher; Incapital LLC
Richard T. Chase; RBC Capital Markets Corporation
Ron Gorgen; Edward Jones
Patricia M. Harrison; Simmons & Company International
Diane P. Novak; Toyota Financial Services
Joanne Rohn; Mesirow Financial
Theodore J. Sawicki; Alston & Bird LLP
Holly H. Smith; Sutherland Asbill & Brennan LLP
Peter von Maur; RBC Capital Markets Corporation
Kenneth L. Wagner; William Blair & Company, LLC

(3.1.10) FINRA Regulatory Notice 09-70: Proposed Consolidated FINRA Rules Governing Registration and Qualification Requirements
NSCP would like to thank the members of the NSCP Comment Committee, and in particular David Rosedahl, for their effort:
William C. Alsover; Alsover Business Consulting
Michael Burns; PrimeVest Financial Services, Inc.
Kenneth I. Daniels; Compliance & Litigation Consulting
John T. Doscher; Prudential Financial
Patricia M. Harrison; Simmons & Company International
Ruth Howell; Questar Capital Corporation
Deborah A. Lamb; McKinley Capital Management, Inc.
Keith A. Loveland; Loveland Consulting
Janie Pedersen; Northland Securities, Inc.
Wesley L. Ringo; J.J.B. Hilliard, W.L. Lyons, Inc.
David E. Rosedahl; Briggs & Morgan
Henry “Hank” Sanchez Jr.; LPL Financial
Scott N. Sherman; Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
Holly H. Smith; Sutherland
David M. Sobel; Abel/Noser Corp.  
Krien Verberkmoes; VALIC Financial Advisors, Inc.
Alexander Vermitsky; Hennion & Walsh Inc.
Peter von Maur; RBC Capital Markets Corporation

(10.6.09) SEC Proposed Rule: Political Contributions by Certain Investment Advisers (File No. S7-18-09)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Scott N. Sherman, for their effort:
Morgan L. Chong; WTAS LLC
Jerry C. Danielson; Lincoln Financial Group
Patricia “Trish” E. Flynn; INTECH
Wendy D. Fox; Ariel Investments, LLC
J. Christopher Jackson; Deutsche Asset Management
Sharon K. Kolb; Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
Diane P. Novak; Toyota Financial Services
David C. Prince; Stephens Investment Management Group, LLC
David E. Rosedahl; Briggs and Morgan
Henry “Hank” Sanchez, Jr.; LPL Financial
Scott N. Sherman; Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
Pamela K. Ziermann; Dougherty Financial Group LLC

(2009) NSCP's Compliance Statute language
The following text was crafted by the NSCP Board of Directors in response to requests from various members of Congress that NSCP draft text mandating Compliance Programs for insertion in current and future financial services industry regulatory reform legislation.

(07.29.09) Proposed FINRA Rule 3030 (Outside Business Activities of Associated Persons)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular David M. Sobel, for their effort:
Jerry C. Danielson; Lincoln Financial Group
Carolyn R. May; Compliance Consultant
Christopher J. Osborne; Ameriprise Financial
Wesley L. Ringo; J.J.B. Hilliard, W.L. Lyons, Inc.
David M. Sobel; Abel/Noser Corp.

(07.28.09) Proposed Amendments to Investment Advisers Act Custody Rule (File No. S7-09-09)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Clifford J. Alexander, for their effort:
Clifford J. Alexander; K&L Gates LLP
William C. Alsover; Alsover Business Consulting
Glen Barrentine; Cadwalader, Wickersham & Taft LLP
Patricia Flynn; INTECH
Patricia C. Foster; Patricia C. Foster, Esq. PLLC / Compliance Compass, Inc.
Elizabeth M. Knoblock; Mayer Brown LLP
Deborah A. Lamb; McKinley Capital Management, Inc.
Miriam Lefkowitz; Shufro Rose & Co., LLC
Angela M. Mitchell; Capital Research and Management Company
Gary D. Mitchell; D.F. Dent & Company, Inc.
Timothy B. Parker; Matthews International Capital Management, LLC
Timothy M. Simons; ASHLAND
Paul B. Uhlenhop; Lawrence, Kamin, Saunders & Uhlenhop, LLC

(07.14.09) Proposed Amendment on FINRA Rule 2030: Origination and Circulation of Rumors (Regulatory Notice 09-29)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Richard D. Marshall, for their effort:
Richard T. Chase; RBC Capital Markets Corp.
Michael J. King; K & L Gates, LLP
Richard D. Marshall; Ropes & Gray LLP
Henry “Hank” Sanchez Jr.; LPL Financial Services
Kenneth L. Wagner; William Blair & Company, LLC

(06.29.09) Proposed Consolidated FINRA Rules Governing Suitability and Know-Your-Customer Obligations (Regulatory Notice 09-25)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Holly H. Smith, for their effort:
William C. Alsover; Alsover Business Consulting
James E. Ballowe, Jr.; E*TRADE Brokerage Holdings, Inc.
Jerry C. Danielson; Lincoln Financial Group
Patricia M. Harrison; Simmons & Company International
Miriam Lefkowitz; Shufro Rose & Co., LLC
Diane P. Novak; Toyota Financial Services
Henry “Hank” Sanchez, Jr.; LPL Financial Services
Scott N. Sherman; Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
David H. Smith; USAA Financial Advisors, Inc.
Holly H. Smith; Sutherland
Peter von Maur; RBC Capital Markets Corporation

(06.19.09) Proposed Amendments to Regulation SHO; File No.: S7-08-09
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Glen Barrentine, for their effort:
Glen Barrentine; Cadwalader, Wickersham & Taft LLP
Ellen Lee; TDAM USA Inc.
Peter von Maur; RBC Capital Markets Corporation

(06.05.09) Comments on Proposed FINRA Rule 3210 (Personal Securities Transactions for or by Associated Persons)
NSCP would like to thank the members of the NSCP Comment Committee for their effort:
William C. Alsover; Alsover Business Consulting
Brian T. Applegate; ING Direct – ShareBuilder Securities
Patricia M. Harrison; Simmons & Company International
Henry Sanchez Jr.; LPL Financial Services
Sylvia M. Scott; Freeman, Freeman & Smiley Law Firm
Scott N. Sherman; Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
David H. Smith; USAA Financial Advisors, Inc.
Holly H. Smith; Sutherland

(04.16.09) Comment Letter Re: Proposed Changes to Forms U4 and U5
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Richard C. Szuch, for their effort:

Richard T. Chase; RBC Capital Markets Corporation
Kerry E. Cunningham; ING Advisors Network
Pamela S. Fritz; MWA Financial Services, Inc.
Patricia M. Harrison; Simmons & Company International
J. Christopher Jackson; Deutsche Asset Management
Kenneth L. Wagner; William Blair & Company, LLC

(01.16.09) Comment Letter Re: Rule 4530 (Reporting Requirements)
NSCP would like to thank the members of the NSCP Comment Committee, and in particular David E. Rosedahl, for their effort:

David E. Rosedahl (Chairperson) Briggs Morgan
David Axtell, State Farm
Kenneth M. Cherrier, Woodbury Financial Services Inc.
Jerry C. Danielson, Lincoln Financial Group
Mark R. Hastings, Prudential
Laurie Hockenberry, State Farm
Julie Mohanco, Prudential
Gwen Weithaus, Northwestern Mutual

(12.16.08) Comment Letter Re: FINRA Ntm 08-68 on Circulation of Rumors
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Richard D. Marshall, for their effort:

Richard D. Marshall (Chairperson), Ropes & Gray LLP
Richard T. Chase, RBC Capital Markets Corp.
Lisa D. Crossley, Spectrum Asset Management, Inc.
Michael J. King, K & L Gates, LLP
Wesley L. Ringo, J.J.B. Hilliard, W.L. Lyons, Inc.
Henry “Hank” Sanchez Jr., LPL Financial Services
Paul B. Uhlenhop, Lawrence, Kamin, Saunders & Uhlenhop, LLC
Kenneth L. Wagner, William Blair & Company, LLC

(6.13.08) Regulatory Notice 08-24: NYSE and NASD rule consolidation
NSCP would like to thank the members of the NSCP Comment Committee, and in particular Holly Smith, for their effort:

Richard T. Chase, RBC Capital Markets Corporation
James E. Ballowe Jr., E*Trade Brokerage Holdings, Inc.
Patricia M. Harrison, Simmons & Company International
Diane P. Novak, Washington Mutual
Kerry E. Cunningham, ING Advisors Network
Theodore (Tod) J. Sawicki, Alston & Bird LLP
Alan J. Herzog, Wachovia Securities, LLC
Holly H. Smith, Sutherland, Asbill & Brennan, LLP
Ben A. Indek, Morgan, Lewis & Bockius LLP
Kenneth L. Wagner, William Blair & Company, LLC

(5.19.08) Proposed Amendments to Regulation S-P
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee co-chairs Kenneth Daniels and Michelle Jacko, for their effort:

Kenneth Daniels, Compliance & Litigation Consulting
Michelle L. Jacko, Core Compliance & Legal Services, Inc.
James Hooks, LPL Financial Services
Angela M. Mitchell, Capital Research and Management Company
Derek Pattison, Scotiabank Wealth Management
Diane P. Novak,Washington Mutual
David Rosedahl, Briggs & Morgan
James Ballowe, E*TRADE Brokerage Holdings, Inc.
Mark H. Nicholas, ING Americas U.S. Legal Services
Martha J. Matthews, FISCO LLC

Related: Jacko Law Group legal tip on Reg S-P Changes

(5.16.08) Proposed Amendments to Form ADV
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee chair Richard D. Marshall of Ropes & Gray LLP, for their effort:

Richard D. Marshall, Ropes & Gray LLP
Michelle L. Jacko, Core Compliance & Legal Services, Inc.
David Canter, Charles Schwab & Co., Inc.
David H. Lui, FAF Advisors, Inc./First American Funds
David W. Porteous, Levenfeld Pearlstein, LLC
David C. Prince, Stephens Investment Management Group, LLC
Angela M. Mitchell, Capital Research and Management Company

(4.10.08) CSA Soft Dollars reproposal
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee chairs, Mark DesLauriers of Osler, Hoskin & Harcourt LLP and Torstein Braaten of TriAct Canada Marketplace LP., for their effort:

Toni Evans, TD Asset Management Inc.
Cathy Tuckwell,Scotia Cassels Investment Counsel Limited
Lynn McGrade, Borden Ladner Gervais LLP
Jennifer Northcote, Stikeman Elliott
Lynn Currie, Osler, Hoskin & Harcourt LLP

(7.13.07) NtM 07-30 Joint Request for Comment: Supervision of Electronic Communications
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Tod Sawicki, for their effort:

Diane P. Novak, Washington Mutual
Richard Chase, RBC Capital Markets Corporation
Michael K. Wolensky, Schiff Hardin LLP
Pat Harrison, Simmons & Company International
Andy Small, Scottrade, Inc.

(4.26.07) File No. SR-NASD-2007-023, NASD and NYSE Regulatory Consolidation
NSCP would like to thank the members of the NSCP SRO Consolidation Working Group, and in particular the Committee's chair, Holly Smith, for their effort:

Richard T. Chase, RBC Capital Markets Corporation
Jerry C. Danielson, Lincoln Financial Group
Patricia M. Harrison, Simmons & Company International
Alan J. Herzog, A.G. Edwards & Sons, Inc.
Diane P. Novak, Washington Mutual
David C. Prince, Stephens Investment Management Group, LLC
Ted J. Sawicki, Alston & Bird LLP

(7.19.06) Sales Practice Standards and Supervisory Requirements for Transactions in Deferred Variable Annuities
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Tod Sawicki, for their effort:

Krien VerBerkmoes, III, VALIC Financial Advisors, Inc.
Lisa Roth, ComplianceMAX Financial, LLC
Diane Novak, Washington Mutual, Corporate Compliance
Mike Wolensky, Schiff Hardin LLP
Henry Sanchez, Jr, LPL Financial Services
Jane Bates, Stanford Group Company

(2.23.06) Gifts and Business Entertainment Comment Letter
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Tod Sawicki, for their effort:

Diane Novak, Washington Mutual, Corporate Compliance
Patricia Harrison, Simmons & Company International
Richard Chase, RBC Capital Markets Corporation
Michelle Jacko, LPL Financial Services
Clifford Kirsch, Prudential Insurance Company of America

(11.18.05) Soft Dollar Comment Letter
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Mike Caccese, for their effort:

Angela M. Mitchell, Capital Research and Management Company
Barbara Brooke Manning, Citigroup Asset Management
J. Christopher Jackson, Hansberger Global Investors, Inc.
David Canter, Charles Schwab & Co., Inc.
Deborah A. Lamb, Trusco Capital Management, Inc.
Judy Babb Werner, Gardner Lewis Asset Management, L.P.
Patricia C. Foster, Patricia C. Foster, Esq. PLLC
Timothy M. Simons, Ashland Partners & Company LLP
Tina Mitchell, Engemann Asset Management
Toni Evans, TD Asset Management Inc.
Timothy B. Parker, Matthews International Capital Management, LLC

(8.6.05) Proposal to Prohibit all Product-Related Sales Contests and to Apply Non-Cash Compensation Rules to All Securities
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Hank Sanchez, for their effort:

Hank Sanchez, TIAA-CREF
Lisa Roth, ComplianceMAX Financial, LLC
Robin Freeman, ABN AMRO Asset Management
Diane Novak, Washington Mutual, Corporate Compliance

(5.13.05) Comments on CSA Soft Dollar Concept Paper 23-402, Best Execution and Soft Dollar Arrangements
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Toni Evans, for their effort:

Toni Evans, TD Asset Management Inc.
Chris Jackson, Hansberger Global Investors, Inc.
Michele Jacko, LPL Financial Services
Kathleen G. Ward of Stikeman Elliott LLP

(8.9.04) Deferred Variable Annuities Transactions
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chair, Mary Calhoun, for their effort:

Jane E. Bates, Stanford Group Company
Mary E. Calhoun, Calhoun Consulting Group, Inc.
Jerry Danielson, Lincoln Financial Group
Shane Hansen, Warner Norcross & Judd LLP
Bryan K. Jacobsen, Butler, Wick & Co., Inc.
Clifford Kirsch, Prudential Insurance Company of America
Donna B. Lawson, First Allied Securities, Inc.
Hugh H. Makens, Warner, Norcross & Judd LLP
Joseph Tuorto, LPL Financial
Kenneth L. Wagner, J.J.B. Hilliard, W.L. Lyons, Inc.
Roy V. Washington, RVW Consulting Group, Inc.
Michael K. Wolensky, Schiff Hardin LLP
Krien VerBerkmoes, VALIC Financial Advisors, Inc.

(4.12.04) Proposed Rule on Confirmation Requirements and Point-of-Sale Disclosure Requirements for Transactions in Certain Mutual Funds and Other Securities
NSCP would like to thank the members of the NSCP Comment Committee, and in particular the Committee's chairman, Hank Sanchez, for their effort:

Donna Bartlett Lawson, First Allied Securities, Inc.
Jane Bates, Stanford Group Company
Patrick Burns, National Planning Corporation
Mary E. Cobb, M. E. Cobb Consulting
Lisa Crossley, Nuveen Investments
Jerry Danielson, Lincoln National Life Insurance Company
William Donnelly, LeClair Ryan
Toni Evans, TD Asset Management Inc
Chris Jackson, Hansberger Global Investors, Inc.
Bryan K. Jacobsen, Butler, Wick & Co., Inc.
Charles Lowry, Piper Jaffray
Michelle Majchrzak, First American Trust, FSB
Barbara Manning, Schroder Investment Management Inc.
James McGuire, LPL Financial Services
Andre Owens, Wilmer Cutler Pickering LLP
Timothy Parker, Independent
Diane Novak, WaMu Capital Corp
Wes Ringo, Northern Trust Global Investment Co.
Hank Sanchez, High Mark Financial Services
Paul Uhlenhop, Lawrence, Kamin, Saunders & Uhlenhop, L.L.C.
Harry Weiss, Wilmer Cutler Pickering LLP

(3-12-04) Proposed Rule: Codes of Ethics for Investment Advisers
NSCP would like to thank the members of the NSCP Investment Adviser Committee, and in particular the Committee's co-chairman, Tim Parker, for their effort:

Lisa Crossley, Nuveen Investments
Toni Evans, TD Asset Management Inc
Chris Jackson, Hansberger Global Investors, Inc.
Michelle Majchrzak, First American Trust, FSB
Barbara Manning, Schroder Investment Management Inc.
Timothy Parker, Independent
Paul Uhlenhop, Lawrence, Kamin, Saunders & Uhlenhop, L.L.C.

(2.05.04) Proposed Rule: Chief Compliance Officer Annual Certification
NSCP would like to thank the following people for their effort:

Lisa Crossley, Nuveen Investments
Toni Evans, TD Asset Management Inc
Chris Jackson, Hansberger Global Investors, Inc.
Michelle Majchrzak, First American Trust, FSB
Barbara Manning, Schroder Investment Management Inc.
Timothy Parker, Independent
Paul Uhlenhop, Lawrence, Kamin, Saunders & Uhlenhop, L.L.C.

(7.09.03) Proposed Amendments to NASD Rule 3010; Proposed IM-3010-1; and Notice to Members 03-29 - Certification by Chief Executive Officer and Chief Compliance Officer
NSCP in particular would like to thank Richard D. Marshall of Kirkpatrick & Lockhart LLP for serving as the principal draftsman of this comment letter.
Further, the NSCP members who formed the Broker-Dealer Ad Hoc Committee for the express purpose of commenting on this rule proposal deserve much credit for the time and expertise each contributed to the process. These members include:

Robert M. Axelrod, Bank of New York
Jane E. Bates, Stanford Group Company
Patrick J. Burns, Jr., Park Avenue Securities, LLC
Scott Fertig, First Southwest Company
Patricia Harrison, Simmons & Company International
Hugh H. Makens, Warner, Norcross & Judd LLP
Angela M. Mitchell, Capital Research and Management Company
Kathy VanNoy Pineda, TIAA-CREF
Henry Sanchez, Jr., High Mark Financial Services
Krien VerBerkmoes, III, VALIC Financial Advisors, Inc.

(7.03.03) Anti-Money Laundering Programs for Investment Advisers
NSCP in particular would like to thank J. Christopher Jackson and Timothy Parker for serving as the principal draftsmen of this comment letter.
Further, the other NSCP members who formed the Investment Adviser Ad Hoc Committee for the express purpose of commenting on this rule proposal deserve much credit for the time and expertise each contributed to the process. These members include:

Patrick J. Burns, Jr., Park Avenue Securities, LLC
Michelle Majchrzak, First American Capital Management
Barbara Brooke Manning, Schroder Investment Management Inc.
Tim Simons, Ashland Accounting LLP.

(4.17.03) S7-03-03, Proposed Rules: Compliance Programs of Investment Companies and Investment Advisers
NSCP in particular would like to thank Jeffrey O. Himstreet of Bingham McCutchen for serving as the principal draftsman of this comment letter.
Further, the NSCP members who formed the IA Ad Hoc Committee deserve much credit for the time and expertise each contributed to the process. These members include:

Ruth Ann Burgess of INVEST Financial Corporation
Patrick J. Burns, Jr. of Park Avenue Securities, LLC
Aaron D. De Angelis of Rorer Asset Management, LLC
J. Christopher Jackson of Hansberger Global Investors, Inc.
Michelle Majchrzak of First America Capital Management
Barbara Brooke Manning of Schroder Investment Management NA Inc.
Richard D. Marshall of Kirkpatrick & Lockhart
Timothy B. Parker of Allianz Dresdner Asset Management
Paul B. Uhlenhop of Lawrence, Kamin, Saunders & Uhlenhop LLP.

(1.08.02) SR-NASD-2002-162, Proposed Supervisory Controls Amendments
NSCP in particular would like to thank Henry Sanchez, principle draftsman on this comment letter. Mr. Sanchez is Vice President, General Counsel at Highmark Financial Services in Lakeland, FL.
Further, the NSCP members who formed the Ad Hoc Committee deserve much credit for the time and expertise each contributed to the process. These members include:

Robert M. Axelrod, Bank of New York
Jane E. Bates, Stanford Group Company
Thomas M. Buehler, Horizon Investment Group LLC
Patrick J. Burns, Jr., Park Avenue Securities
Ruth Ann Burgess, INVEST Financial Corporation
Nicholas T. Chapekis, A.G. Edwards & Sons
Mary E. Cobb, M.E. Cobb Consulting
Jerry C. Danielson, Lincoln National Life Insurance Company
Patricia Harrison, Simmons & Company International
Robert W. Levitt, Sterling Financial Investment Group, Inc.
James F. McGuire, LPL Financial Services
Angela M. Mitchell, Capital Research and Management Company
Henry Sanchez, Jr., High Mark Financial Services
Harry J. Weiss, Wilmer, Cutler & Pickering
Michael K. Wolensky, Kutak Rock LLP.