NASD Raises Eyebrows With Election Snafu

Friedlander, Josh
November 2004
Investment Dealers' Digest;11/29/2004, Vol. 70 Issue 46, p13
Trade Publication
This article reports that the National Association of Securities Dealers (NASD), appears to have violated its own rules recently when nominating a compliance officer to the board of the New York City district office. Now, in attempting to fix that mistake, the NASD has decided to put forth a new nomination, though such an action appears to have no basis in the NASD's bylaws and may disadvantage an independent candidate for the slot. The kerfuffle is rooted in an NASD bylaw that says district board nominees must work primarily from an office located within the district in which they would serve.


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