National Association of Securities Dealers. A group of brokers and dealers empowered by the SEC to regulate the over-the-counter securities market. — Abbr. NASD. [Cases: Exchanges 11; Securities Regulation 40.15. C.J.S. Exchanges §§ 4, 25; Securities Regulation §§ 166–167.]
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administrative procedure 行政程序 指行政机关作出行政行为时的方式和程序，有别于法院所适用的司法程序〔judicial procedure〕。在美国，大多数联邦行政机关的程序规则和规定都体现在《联邦法规法典》〔Code of Federal Regulations〕之中。 (→Administrative Procedure Act)
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coastal-state control. Maritime law. The exercise of authority under international conventions for a state to stop, board, inspect, and when necessary detain vessels that are under foreign flags while they are navigating in the coastal state’s territorial waters. • The purpose is to ensure the safety of the vessels and to enforce environmental regulations. Cf.
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contestant. 1. One who contests the validity of a will, trust, or other legal instrument. — Also termed objectant; caveator. 2. Trademarks. One who challenges the placement of a trademark on the Principal Register. • The term refers to a challenger in (1) an interference proceeding, (2) an opposition proceeding before a mark is placed
operative construction. 1. The interpretation of a writing or agreement, esp. a contract, statute, or regulation, that is being relied on by the parties, a court, or an administrative agency. 2. Patents. A working embodiment of an invention, usu. used to conceptualize the invention and how it will work rather than to create a working
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margin deficiency. Securities. The extent to which the amount of the required margin exceeds the equity in a margin account. [Cases: Securities Regulation 45.11.]
margin requirement. Securities. The percentage of the purchase price that a buyer must deposit with a broker to buy a security on margin. • This percentage of the purchase price is set and adjusted by the Federal Reserve Board. [Cases: Securities Regulation 45.11.] “Margin requirements are the statutory and administrative restrictions placed upon the percentage
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Rule 10b-5. The SEC rule that prohibits deceptive or manipulative practices (such as material misrepresentations or omissions) in the buying or selling of securities. — Also termed antifraud rule. [Cases: Securities Regulation 60.10–60.70. C.J.S. Securities Regulation §§ 105–106, 164–165, 169–228.]
use in commerce. Trademarks. Actual use of a trademark in the sale of goods or services. • Use of a trademark in commerce is a prerequisite to trademark registration. This type of use fixes the trademark in a way that associates it with marketed goods or services, as contrasted with a token use intended to
market-making, n. The practice of establishing prices for over-the-counter securities by reporting bid-and-asked quotations. • A broker-dealer engaged in this practice, which is regulated by both the NASD and the SEC, buys and sells securities as a principal for its own account, and thus accepts two-way bids (both to buy and to sell). See BID