|Tuesday, May 27, 2003|
Michael Shokouhi 202-728-8304
NASD Launches Online Chairperson Training for Arbitrators
Washington, DC — NASD today announced that its Dispute Resolution division will launch its online Chairperson Training program for arbitrators, on June 2, 2003. This program will facilitate the training to become an NASD arbitration Chairperson, while prospective arbitrators will continue to be required to attend the standard arbitration training course, in-class.
"This online implementation will assist both the forum and individual arbitrators by providing the forum with more qualified and diverse chairpersons while making the training itself more efficient and less costly for individuals," said Linda Fienberg, President of NASD Dispute Resolution.
The online Chairperson Training will make training conveniently available via the Web 24 hours a day, seven days a week. Arbitrators will be able to access and enroll in the training via NASD's Web site located at www.nasdadr.com. The cost to enroll for the training remains $100. The course takes approximately nine, non-continuous hours to complete, and participants have one month to complete the program from the date of their enrollment. There is a test at the end of the training program, and a passing grade of 80 percent or greater is required. NASD believes this method of training will give arbitrators greater control over their own learning process, while helping them build training into their already hectic schedules.
The current training system requires arbitrators located in various cities nation-wide to attend one of the approximately 65 chairperson training sessions that NASD Dispute Resolution holds annually.
NASD Dispute Resolution currently handles about 90 percent of all securities industry arbitration claims filed in the United States.
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 our Web Site at www.nasd.com.