|Tuesday, November 5, 2002
Michael Shokouhi 202-728-8304
NASD to Provide Arbitration Training Online
Washington, D.C. — NASD announced today that its Dispute Resolution division would begin providing arbitration Chairperson Training programs online in place of the current in-class training. NASD Dispute Resolution currently handles about 90 percent of all securities industry arbitration claims filed in the United States.
The current training system requires arbitrators located in various cities nation-wide to attend one of the approximately 65 training sessions that NASD Dispute Resolution holds annually. Online training will replace the current training for chairpersons to make it more available, diverse and current.
The first online course, Chairperson Training, may be followed by advanced and subject-specific training programs in the future. NASD Dispute Resolution expects to rollout its first online arbitrator-training program during the first quarter of 2003.
"We are delighted to offer online chairperson training to NASD's roster of arbitrators. This Web based capacity will give us the opportunity to enhance the skills of our chair panelists and make the forum more efficient, faster, and less costly for all participants," said Linda Fienberg, President of NASD Dispute Resolution
Fire Solutions, Inc. has been chosen to assist NASD in porting the current Chairperson Training curriculum into a Web version, along with the management of the ongoing administrative and technical aspects of the program. The site will also provide access, via email, to NASD trainers that will be available to answer questions and provide support to trainees using the online program.
NASD is the leading private-sector provider of financial regulatory services, dedicated to bringing integrity to the markets and confidence to investors through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business -- from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms. For more information please visit www.nasd.com.