finra

FINRA

For Release:
Contact:
Thursday, December 7, 2000
Nancy A. Condon
(202) 728-8379

Amy E. Hyland
(202) 728-8304

 

NASD Board of Governors Approves Resolution on Analyst Disclosure

Washington, DC — The National Association of Securities Dealers, Inc. (NASD®) Board of Governors today approved a resolution reaffirming its support for disclosure of conflicts of interest by financial services professionals during scheduled public appearances.

 

The Board also directed NASD Regulation, Inc. staff to coordinate with the staffs of the Securities and Exchange Commission (SEC) and the New York Stock Exchange (NYSE) to develop parallel rule language requiring that disclosure be made in a practical manner during scheduled public appearances by associated persons of member firms and registered investment advisors.

 

"It is important for investors to have confidence that a recommendation made by an analyst, or other financial services professional, is based solely on the merits of the investment and not that person’s financial interest. We look forward to working expeditiously with the SEC and the NYSE to draft similar rules covering brokers and investment advisors," said Robert R. Glauber, NASD CEO and President.

 

The National Association of Securities Dealers, Inc., is the largest securities-industry, self-regulatory organization in the United States. It is the parent organization of The Nasdaq Stock Market®, The American Stock Exchange®, NASD Regulation, Inc., and NASD Dispute Resolution, Inc. For more information about the NASD and its subsidiaries, please visit the following Web sites: www.nasdaq.com, www.nasdr.com, www.nasdadr.com, or the Nasdaq NewsroomSM at www.nasdaqnews.com.