As of January 1,
1998, every bank dealer (as defined in rule D-8) shall be subject
to the Code of Arbitration Procedure of the National Association
of Securities Dealers, Inc. ("NASD") for every claim,
dispute or controversy arising out of or in connection with
the municipal securities activities of the bank dealer acting
in its capacity as such. For purposes of this rule, each bank
dealer shall be subject to, and shall abide by, the NASD’s
Code of Arbitration Procedure, including any amendments thereto,
as if the bank dealer were a "member" of the NASD.
