|Thursday, January 15, 1998
Reid Walker - (202) 728-8243
Scott Peterson - (202) 728-8955
NASD Members Approve New Board of Governors
Washington, D.C.—The National Association of Securities Dealers, Inc. (NASD®), today announced that its membership has approved 22 members of the Board of Governors at its annual meeting held in Washington, D.C. Under NASD By-Laws, the Board will consist of 27 members—twenty two elected by the membership, four members of the staffs of the NASD and it’s subsidiaries, and the Chair of the newly created National Adjudicatory Council.
The 27 members of the new NASD Board of Governors will consist of 9 industry, 14 non-industry and 4 NASD staff members. Industry members consist of:
Non-industry members include:
NASD staff Board members include:
Individuals having not previously served in a board capacity include Messrs. Allison, Baxter, Kamen, Marron, O’Neill, and Schultz.
Board terms will be staggered. Serving January 1998-January 1999 will be Richard Brueckner, Elaine Chao, E. David Coolidge, James Dimon, Donald Kirk, Bridget Macaskill, John Markese, and James Rothenberg.
Serving January 1998-January 2000 will be Nancy Baker, Jon Corzine, Robert Glauber, Philip Lochner, Arvind Sodhani, and Kenneth Wessels.
Serving January 1998-January 2001 will be Herbert Allison, Frank Baxter, Michael Brown, Harry Kamen, Donald Marron, Paul O’Neill, James Riepe, Todd Robinson, and Howard Schultz.
Sixteen members of the NASD Board of Governors will also serve as members of the NASD Regulation, Inc., or The Nasdaq Stock Market, Inc., boards.
The National Association of Securities Dealers is the largest securities-industry self-regulatory organization in the United States. Through its subsidiaries, NASD Regulation, Inc., and The Nasdaq Stock Market, Inc., the NASD develops rules and regulations, provides a dispute resolution forum, conducts regulatory reviews of members activities and designs, operates and regulates securities markets all for the benefit and protection of the investor.