NASD Notice to Members 96-45 - July 1996

NASD Appoints Ombudsman

Executive Summary

The NASD today appointed Bernard Thompson as Ombudsman for the NASD and its subsidiaries, The Nasdaq Stock Market, Inc., and NASD Regulation, Inc. The Ombudsman position has been created within the NASD's Department of Internal Review. The Ombudsman will serve as an alternative dispute resolution practitioner. His primary objective is to find an acceptable solution to problems and concerns that meet the needs of both the individual and the NASD. The Ombudsman will act in an objective and confidential manner to resolve matters that fall outside established forums and to ensure that existing structural operations are functioning equitably.

 

The Ombudsman's role will not displace the NASD's existing procedures for handling customer complaints, members' disciplinary grievances, arbitration matters, or issuer concerns.

 

Questions regarding this Notice should be directed to the Department of Internal Review at (202) 728-8973 or (202) 728-8442.