NASD Officials' Compensation Rose in '01; Pay Cuts for SIA, ICI

Hume, Lynn
April 2003
Bond Buyer;4/30/2003, Vol. 344 Issue 31625, p1
Trade Publication
The compensation of the National Association of Securities Dealers' chief regulatory officials inflated in 2001, while top officials at the Securities Industry Association (SIA) and Investment Company Institute (ICI) took pay reductions, according to the fourth annual survey by periodical 'The Bond Buyer,' of tax information forms filed by 23 nonprofit groups involved in the municipal and securities markets. However, all of the SIA's top officials and several of the ICI's management group received significant increases in benefits at the same time as they took pay reductions. Matthew Fink, the ICI's president, took both pay and benefit cuts, reflecting a tough year in which the mutual fund group's membership dues and assessments decreased to 23.4 percent.


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