NASD Names Sec Enforcement Official, Martin A. Kuperberg, Head of New York District Operations
Washington, DC--The National Association of Securities Dealers, Inc. (NASD), announced today the appointment of Martin A. Kuperberg, a long-time Securities and Exchange Commission (SEC) official with more than 22 years of experience, to head its New York District operations, where most of the NASD's largest member firms are headquartered.
Kuperberg is presently Senior Associate Regional Director of the SEC's Northeast Regional Office, which covers 13 states from New England to the mid-Atlantic region. He is the senior executive responsible for three SEC programs aimed at protecting investors: its broker/dealer and transfer agent inspection program, broker/dealer enforcement program and full-disclosure program. Kuperberg supervises a staff of over 100 people at the SEC and oversees more than 300 examinations a year. He initiated a number of significant enforcement cases including several high-profile actions against "boiler rooms" and so- called "rogue brokers." He will join the NASD in early February.
The New York District, District 10, is the largest of the NASD's 11 Districts, with responsibility for over 1,400 main offices and more than 4,150 branch offices. The region covered by this 160-person office includes the five boroughs of New York City and adjacent counties in New York state and northern New Jersey. Principal responsibilities of NASD District Offices are focused on investor-protection issues carried out through on-site exams of member firms to determine compliance with federal securities laws and NASD rules and regulations, and through member education aimed toward preventing violations.
Kuperberg succeeds John Nocella, Senior Vice President, and a key member of the NASD's senior management group. Nocella will assume an increased role in addressing national issues that affect all 14 NASD District Offices across the country, while running the daily operations of the Philadelphia District Office.
Commenting on the changes at District 10, John Pinto, NASD Executive Vice President of Regulation, said, "Given Martin's excellent record at the SEC for running a strong and effective enforcement program, his availability gave us a unique opportunity to bring him on board in our New York office."
On Nocella's new responsibilities, Pinto added: "With the establishment of NASD Regulation, Inc., our new regulatory subsidiary, we're in the midst of significant organizational and structural changes that continue to evolve each day. John's excellent credentials will be invaluable as NASDR works to make our regulatory and enforcement programs even more effective."
The NASD is the largest self-regulatory organization in the United States. Its membership is comprised of every securities firm in the nation that does a business with the public--more than 5,400 firms. These firms employ more than 500,000 registered representatives who must be licensed by the NASD as a prerequisite to selling securities or managing a firm.