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FINRA

For Release:
Contact:
Monday, July 14, 1997
Nancy A. Condon - (202) 728-8379

NASD Regulation Names Mary Alice Brophy Executive Vice President for Member Regulation

Washington, D.C.-- NASD RegulationSM today announced that veteran securities industry executive Mary Alice Brophy has been named Executive Vice President for Member Regulation.

 

Ms. Brophy will oversee NASD Regulation’s nationwide regulatory department, examination, testing & continuing education, and compliance programs. Ms. Brophy will be based in Washington and is scheduled to assume her new duties October 1, 1997. She will report directly to NASD Regulation President Mary L. Schapiro.

 

"Mary Alice is one the nation’s best known securities industry experts," Ms. Schapiro said. "For more than two decades, she has been an industry leader and regulator. Coupled with her experience as Chairman of the NASD Board of Governors and the NASD Regulation Board of Directors, Mary Alice understands the responsibility and value of securities industry self-regulation."

 

Currently Senior Vice President and Director of Compliance for the Minneapolis-based brokerage firm Dain Bosworth, Ms. Brophy also serves as Senior Vice President of Interra Financial, the entity responsible for ensuring compliance at all three of the company’s broker/dealer and investment advisory subsidiaries. She joined Dain Bosworth in 1988.

 

From 1985 to 1988 Ms. Brophy served as Vice President for the privately held Minneapolis-based Management Compensation Group. Earlier, she was Senior Vice President and General Manager of the Eberhardt Company, a large mortgage banker and real estate corporation (1983-1985). From 1979-1982, Ms. Brophy served as the Minnesota Commissioner of Securities and Real Estate where she played an active role in the development of the Uniform State Securities Examination. Previously, she was an Assistant Vice President for Piper, Jaffray overseeing the Corporate Syndicate Department (1970-1979).

 

Ms. Brophy holds a Bachelor of Science degree from the College of St. Teresa in Winona, MN, and received post-graduate training from the Securities Industry Institute at the Wharton School at the University of Pennsylvania.

 

Ms. Brophy replaces John E. Pinto who is retiring in September after nearly 30 years with the NASD.

 

"John has made an invaluable contribution to investors and the securities industry during his nearly three decades of service with the NASD," Ms. Schapiro said. "He will be missed by everyone who has grown to appreciate his unique knowledge and experience about the broad range of our regulatory programs. All of us who have had the opportunity to work with John have benefited from his energy and commitment to the NASD’s mission of investor protection."

 

NASD Regulation polices all U.S. stock brokers and brokerage firms. NASD Regulation is a subsidiary of the National Association of Securities Dealers, Inc. (NASDÒ), the largest securities-industry self-regulatory organization in the United States.