Washington, D.C. —NASD Regulation, Inc., today announced that Stephen I. Luparello has been promoted to Executive Vice President, Market Regulation; Jeffrey S. Holik has been promoted to Vice President and Director of Regulation Policy; Elisabeth Owens has been promoted to Vice President and District Director; Barbara Z. Sweeney has been promoted to Vice President, Central Registration Depository/Public Disclosure (CRD/PD) Operations; and Michael D. Wolk has been promoted to Vice President and Chief Counsel, Market Regulation.
As Executive Vice President, Luparello will serve as senior manager of the NASD Regulation Market Regulation Department, one of NASD Regulation’s most important operational functions. Overseeing a staff of 190, Luparello will continue to manage NASD Regulation’s surveillance of trading on The Nasdaq Stock Market, as well as other markets operated by Nasdaq. In this capacity, he will supervise the investigation of fraud, insider trading, and manipulation. Last October, Luparello became interim head of the American Stock Exchange’s (Amex) Member Firm Regulation Department, and in his new position, will continue to oversee the regulatory integration and coordination between the Nasdaq and Amex markets. Luparello joined NASD Regulation in 1996, and has over 15 years securities and regulatory experience.
As Vice President and Director of Regulation Policy, Holik will be responsible for the development and coordination of regulatory policy in the Department of Member Regulation, which conducts NASD Regulation’s national examination program.
In this capacity, Holik will serve as Member Regulation’s liaison on policy matters with the Office of General Counsel and the Department of Enforcement. He will be responsible for national coordination and oversight of NASD Regulation’s Member Application and Fixed Income Securities Regulation Programs. He also will oversee Member Regulation’s Statutory Disqualification, and National Preventive Compliance Programs. Holik joined NASD Regulation in 1997 as Director of Disciplinary Policy in the Office of the President.
Owens, a 30-year veteran of the NASD, has most recently served as Director of the San Francisco District Office. In her position, Vice President and Director of the San Francisco District Office, Owens will continue her responsibilities as the primary interface between the NASD and member firms in the District. She will continue to manage the member firm examination program, responses to all customer complaints, investigations of disciplinary matters, and the execution of member firm preventive compliance measures.
Sweeney, a 10-year veteran of the NASD, recently served as Director of Operations, CRD/PD. Promoted to Vice President, CRD/PD Operations, she will continue to manage the registration and licensing of member firms and registered representatives, and will oversee a staff of 130 full-time employees. In addition, she is responsible for the Public Disclosure Program, the Gateway Call Center, and will continue to ensure that CRD meets the needs of member firms, the SEC, participating SROs, and state regulators. Sweeney will continue to manage the business side of the Web CRD system, the largest regulatory, interactive system on the Internet.
Wolk, an eight-year veteran of NASD’s Market Regulation Department, has been promoted to Vice President, Chief Counsel, Market Regulation. As Chief Counsel, Wolk is the senior attorney for the Market Regulation Department, responsible for managing a staff of 20 employees, and some 500 cases annually stemming from examinations and investigations of trading activity. Wolk will be responsible for case assignment, litigation strategy, and the setting of legal priorities for the Market Regulation Department. In addition, he is a main point of contact within NASD Regulation for the interpretation of policy for staff and member firms, and will also provide guidance to the Department on Nasdaq trading, fraud, insider trading, and other matters.
Investors can obtain more information about NASD Regulation as well as the disciplinary record of any NASD-registered broker or brokerage firm by calling (800) 289-9999.
NASD Regulation oversees all U.S. stockbrokers and brokerage firms. NASD Regulation, The Nasdaq Stock Market, Inc., and the Amex® are subsidiaries of the National Association of Securities Dealers, Inc Stock. (NASD®), the largest securities industry self-regulatory organization in the United States.