STATEMENT OF POLICY

NORTH-AMERICAN ASSOCIATION OF

TELECOMMUNICATIONS DEALERS

SOFTWARE THEFT

            The NATD announces today the adoption of a policy which makes theft of software generally, and in particular, the generation, use or sale or the knowing purchase of a false authorization codes to unlock software features a per se violation of the NATD Code of Ethics.  Those parties bound by the Code of Ethics have an affirmative obligation to report such conduct individually or by other to the Ethics Committee of the NATD.

            Parties in violation of the Code of Ethics based upon this Policy are subject to immediate suspension or expulsion from membership in the NATD and temporary or permanent ban from use of the NATD Trading Network (NTTN).  

            Parties aggrieved by this Policy may appeal the suspension or expulsion provided for herein pursuant to the NATD Ethics Code Practice and Procedure.