NAC90.373. Restrictions on activities and compensation.

     1. An assistant sales representative shall not:

     (a) Solicit a transaction or a new account on behalf of a broker-dealer;

     (b) Render investment advice;

     (c) Make recommendations to customers regarding the appropriateness of a securities transaction;

     (d) Effect transactions in a securities market on behalf of a broker-dealer; or

     (e) Act as an assistant sales representative for more than one broker-dealer at any one time.

     2. The activities of an assistant sales representative may only be conducted at a business location of the broker-dealer which is under the direct supervision of an appropriately registered principal of the broker-dealer.

     3. A broker-dealer may only compensate an assistant sales representative on an hourly wage or salaried basis and may not in any way, directly or indirectly, relate the compensation to the number or size of the transactions effected for customers. This provision does not prohibit persons registered in this capacity from receiving bonuses or other compensation based on a member’s profit-sharing plan or similar arrangement.

     (Added to NAC by Sec’y of State, eff. 11-19-92)