|Tuesday, December 8, 1998
Scott Peterson - (202) 728-8955
NASD Announces Members of New Bond Market Transparency Committee
Washington, D.C.—The National Association of Securities Dealers, Inc. (NASD®), today announced that 15 individuals have agreed to serve on a new Bond Market Transparency Committee. The committee will be charged with charting the overall direction of regulatory and system response to enhance the price transparency and surveillance oversight of the U.S. corporate debt market for the benefit of investors and all market participants.
The NASD has embarked upon the development of a system to make information about corporate bond transactions available to investors at the request of Securities and Exchange Commission (SEC) Chairman Arthur Levitt.
"The United States has the strongest and best-regulated fixed-income markets in the world, but the transparency and oversight of the corporate bond market can be improved. Working closely with the SEC, we at the NASD and the industry leaders who have agreed to serve on this new committee will work hard to identify the most effective steps to enhance bond market transparency without adversely impacting market liquidity," said Frank G. Zarb, Chairman and CEO of the NASD.
The Bond Market Transparency Committee members are:
The National Association of Securities Dealers, Inc. (NASD®), is the largest securities-industry, self-regulatory organization in the United States and parent organization of NASD Regulation, Inc., and The Nasdaq-Amex Market GroupSM. Through its regulatory subsidiary, the NASD develops rules and regulations, provides a dispute resolution forum, and conducts regulatory reviews of member activities for the protection and benefit of investors. The NASD oversees the nation’s 5,600 brokerage firms and more than half a million registered brokers.
For more information about the NASD and its subsidiaries, please visit the following Web sites: www.nasd.com; www.nasdaq-amex.com; or the Nasdaq-Amex NewsroomSM at www.nasdaq-amexnews.com.