News Release

NASD Regulation Announces New Regional Directors for Dispute Resolution Office

Washington, D.C. - NASD Regulation announced today the appointment of two veteran attorneys as Directors of the Office of Dispute Resolution.

Elizabeth R. Clancy was named Northeast Regional Director, based in New York City, and Rose M. Schindler was named Director of the Florida Region, based in Fort Lauderdale. Clancy assumed her new duties earlier this month and Schindler's move became effective November 1996.

"Adding Elizabeth and Rose and their expertise are key elements of our strategy to expand NASD Regulation's commitment to dispute resolution," said Linda D. Fienberg, Executive Vice President for Dispute Resolution.

Clancy succeeds Dorothy Popp who was promoted to Director of Operations for the Office of Dispute Resolution, with nationwide responsibilities. Schindler succeeds Neal Blacker who has assumed the newly created position of Director of Neutral Training and Development.

Schindler comes to NASD Regulation after four years in the Southeast Regional Office of the Securities and Exchange Commission (SEC) where she most recently served as Associate Regional Director. Prior to joining the SEC in Florida, Schindler was litigation counsel at A.G. Edwards & Sons, Inc. (1989-1992), where she represented the firm and its employees in arbitration proceedings and in regulatory and disciplinary matters. Prior to 1989, she served as a staff attorney and then Branch Chief (Enforcement) in the Pacific Regional Office of the SEC. Schindler graduated from the University of Pennsylvania Wharton School and received her J.D. in 1985 from De Paul University College of Law.

Clancy joins NASD Regulation from the Long Island Lighting Company where she served as Managing Counsel since 1995. From 1988-1994, she was General Counsel at the Coffee, Sugar & Cocoa Exchange, Inc., the fifth largest commodities exchange in the nation. Previously, Clancy was General Counsel at Berkey, Inc. She has also served as an attorney for two corporations. Clancy graduated from Fordham University School of Law in 1970.