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06-66 NASD Announces Election Results for District Committees, District Nominating Committees and the National Adjudicatory Council

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District and National Adjudicatory Council Elections



Legal & Compliance
Senior Management
District Elections

Executive Summary

Through this Notice, NASD announces the election results for the District Committees, the District Nominating Committees and the National Adjudicatory Council (NAC). The candidates nominated to the District Nominating Committees have been duly elected in all districts. In the 11 District Committee elections, additional candidates satisfied the requirements of Article VIII of the NASD Regulation By-Laws to contest each District Committee election. The newly elected District Committee members will serve until January 2010,1 and the newly elected District Nominating Committee members will serve until January 2008.

In the NAC elections, additional candidates satisfied the requirements of Article VI of the NASD Regulation By-Laws to contest two regional industry seats (New York and West) on the NAC. The individual who received the largest number of votes cast in the New York Region has been declared the nominee from that region. Similarly, the individual who received the largest number of votes cast in the West Region has been declared the nominee from that region. The Regional Nominating Committees for each region will nominate these individuals to the National Nominating Committee for appointment by the NASD Regulation Board.

The members of the incoming District Committees and District Nominating Committees, and the proposed NAC nominees, are identified in Attachment A. All petition candidates are identified as such. All other candidates were nominated by the District Nominating Committees.

Questions/Further Information

Questions concerning this Notice may be directed to the Regional or District Director noted in Attachment A or to Barbara Z. Sweeney, Senior Vice President and Corporate Secretary, NASD, at (202) 728-8062 or via email at

1 Some District Committee members were elected to fill existing vacancies and therefore may serve less than a three-year term, as indicated on Attachment A.


District Committees and District Nominating Committees—2007 Incoming Members
District 1
Debra J. Pohlson, Acting District Director
525 Market Street, Suite 300
San Francisco, CA 94105-2711
(415) 882-1200
Northern California (the counties of Monterey, San Benito, Fresno and Inyo, and the remainder of the state north or west of such counties), northern Nevada (the counties of Esmeralda and Nye, and the remainder of the state north or west of such counties) and Hawaii
District 1 Committee Incoming Members
Robert T. Angle
(petition candidate)
White Pacific Securities, Inc. San Francisco, CA
Leonard R. Berry Backstrom McCarley Berry & Co., LLC San Francisco, CA
James H. Williams James H. Williams San Rafael, CA
District 1 Nominating Committee Incoming Members
William A. Evans Stone & Youngberg, LLC San Francisco, CA
Gerard P. Gloisten GBS Financial Corporation Santa Rosa, CA
William P. Hayes Wells Fargo Investments, LLC San Francisco, CA
Francis X. Roche, II RBC Dain Rauscher, Inc. San Francisco, CA
William Svoboda Morgan Stanley Palo Alto, CA

District 2
Joseph M. McCarthy, Acting District Director
300 South Grand Avenue, Suite 1600
Los Angeles, CA 90071-3126
(213) 229-2300
Southern California (that part of the state south or east of the counties of Monterey, San Benito, Fresno and Inyo), southern Nevada (that part of the state south or east of the counties of Esmeralda and Nye) and the former U.S. Trust Territories
District 2 Committee Incoming Members
Craig M. Biddick
(petition candidate)
Mission Securities Corporation San Diego, CA
Mark S. Stewart
(petition candidate)
Mark Stewart Securities, Inc. Irvine, CA
Craig R. Watanabe Western International Securities, Inc. Pasadena, CA
District 2 Nominating Committee Incoming Members
M. LaRae Bakerink WBB Securities, LLC San Diego, CA
Stephen B. Benton Financial Network Investment Corp. El Segundo, CA
Don S. Dalis UBS Financial Services, Inc. Newport Beach, CA
James M. Dillahunty Fixed Income Securities, LLC San Diego, CA
Neal E. Nakagiri NPB Financial Group, LLC Burbank, CA

District 3
Joseph M. McCarthy, District Director
370 17th Street, Suite 2900
Denver, CO 80202-5629
(303) 446-3100
Arizona, Colorado, New Mexico, Utah and Wyoming
Michael E. Lewis, District Director
601 Union Street, Suite 1616
Seattle, WA 98101-2327
(206) 624-0790
Alaska, Idaho, Montana, Oregon and Washington
District 3 Committee Incoming Members
Chester J. Hebert CIM Securities LLC Greenwood Village, CO
James W. Millegan
(petition candidate)
J.W. Millegan, Inc. Oswego, OR
Douglas W. Schriner
(petition candidate)
Harrison Douglas, Inc. Aurora, CO
District 3 Nominating Committee Incoming Members
Bridget Gaughan AIG Financial Advisors, Inc.. Phoenix, AZ
John Goodwin Goodwin Browning & Luna Securities, Inc. Albuquerque, NM
Curtis Hammond Morgan Stanley DW Inc. Bellevue, WA
J. Keith Kessel AFS Brokerage, Inc. Greenwood Village, CO
Arlene Wilson D.A. Davidson Great Falls, MT

District 4
Thomas D. Clough, District Director
120 West 12th Street, Suite 800
Kansas City, MO 64105-1930
(816) 421-5700
Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota
District 4 Committee Incoming Members
Kenneth M. Cherrier1 Fintegra, LLC Minneapolis, MN
Robert E. Hillard
(petition candidate)
Arlington Securities, Inc. St. Louis, MO
Richard D. Link Edward Jones St. Louis, MO
Daniel J. May Financial Network Investment Corporation Minneapolis, MN
District 4 Nominating Committee Incoming Members
Robert M. Chambers A.G. Edwards & Sons, Inc. West Des Moines, IA
Joseph D. Fleming RBC Dain Rauscher Inc. Minneapolis, MN
Mark T. Lasswell Wells Fargo Brokerage Services, LLC Minneapolis, MN
Kevin P. Maas PrimeVest Financial Services, Inc. St. Cloud, MN
Stephen S. Soden Country Club Financial Services, Inc. Mission Woods, KS

District 5
Keith E. Hinrichs, District Director
1100 Poydras Street, Energy Center, Suite 850
New Orleans, LA 70163-0802
(504) 522-6527
Alabama, Arkansas, Louisiana, Mississippi, Oklahoma and Tennessee
District 5 Committee Incoming Members
Robert Keenan, Jr.
(petition candidate)
St. Bernard Financial Services, Inc. Russellville, AR
Michael J. Mungenast ProEquities, Inc. Birmingham, AL
Gary K. Wunderlich, Jr. Wunderlich Securities, Inc. Memphis, TN
District 5 Nominating Committee Incoming Members
John J. Dardis Next Financial Group, Inc. Metairie, LA
Henry M. Fyfe, III Duncan-Williams, Inc. Memphis, TN
Charles C. Hollinger, Jr. Johnson Rice & Company, LLC New Orleans, LA
Carolyn R. May Simmons First Investment Group, Inc. Little Rock, AR
R. Patrick Shepherd Avondale Partners, LLC Nashville, TN

District 6
Virginia F. M. Jans, Regional Director
12801 N. Central Expressway, Suite 1050
Dallas, TX 75243-1778
(972) 701-8554
District 6 Committee Incoming Members
Caroline B. Austin
(petition candidate)
Evolve Securities, Inc. Dallas, TX
Kennard (Ken) R. George VSR Financial Services, Inc. Dripping Springs, TX
Fenner R. Weller, Jr. Weller Anderson & Co., Ltd. Houston, TX
District 6 Nominating Committee Incoming Members
Karen Banks Frost Brokerage Services, Inc. San Antonio, TX
Cynthia E. Besek Maplewood Investment Adviors, Inc. Dallas, TX
William D. Felder Southwest Securities, Inc. Dallas, TX
Brent T. Johnson Multi-Financial Securities Corporation Houston, TX
John R. Muschalek First Southwest Company Dallas, TX

District 7
Daniel J. Stefek, District Director
One Securities Center, Suite 500
3490 Piedmont Road, NE
Atlanta, GA 30305-4808
(404) 239-6100
Georgia, North Carolina and South Carolina
Mitchell C. Atkins, District Director
2500 N. Military Trail, Suite 302
Boca Raton, FL 33431-6324
(561) 443-8000
Florida, Puerto Rico, the Canal Zone and the Virgin Islands
District 7 Committee Incoming Members
Jed E. Bandes Mutual Trust Co. of America Securities Clearwater, FL
Valerie G. Brown ING Financial Partners, Inc. Atlanta, GA
Karen Z. Fischer
(petition candidate)
Hunter Scott Financial LLC Delray Beach, FL
Raymond H. Smith, Jr.2 Smith, Brown & Groover, Inc. Macon, GA
District 7 Nominating Committee Incoming Members
Susan J. Hechtlinger Bank of America Investment Services, Inc. Charlotte, NC
Landrum H. Henderson, Jr. Stephens, Inc. Charlotte, NC
Dennis S. Kaminski Mutual Service Corporation West Palm Beach, FL
James A. Klotz FMSBonds, Inc. North Miami Beach, FL
Alan L. Maxwell Wachovia Capital Markets, LLC Charlotte, NC

District 8
Carla A. Romano, Regional Director
55 West Monroe Street, Suite 2700
Chicago, IL 60603-5052
(312) 899-4400
Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin
District 8 Committee Incoming Members
Joel R. Blumenschein Freedom Investors Corp. Hartland, WI
Thomas A. Bono David A. Noyes & Company Oak Park, IL
Steven J. Greenwald Telemus Investment Brokers, LLC Southfield, MI
District 8 Nominating Committee Incoming Members
George E. Bates Bates Securities, Inc. Rockford, IL
Michael E. Bosway City Securities Corporation Indianapolis, IN
Mari Buechner Coordinated Capital Securities, Inc. Madison, WI
Ruth C. Hannenberg Mesirow Financial, Inc. Chicago, IL
Robert J. Michelotti Ferris, Baker Watts Incorporated Auburn Hills, MI

District 9
Gary K. Liebowitz, Regional Director
581 Main Street, 7th Floor
Woodbridge, NJ 07095-1164
(732) 596-2000
New Jersey and New York (except for the counties of Nassau and Suffolk, and the five boroughs of New York City)
Robert B. Kaplan, District Director
1835 Market Street, Suite 1900
Philadelphia, PA 19103-2929
(215) 963-1992
Delaware, the District of Columbia, Maryland, Pennsylvania, Virginia and West Virginia
District 9 Committee Incoming Members
Wayne F. Holly Sage, Rutty & Co., Inc. Rochester, NY
Richard P. Seelaus
(petition candidate)
R. Seelaus & Co., Inc. Summit, NJ
Timothy L. Smith Comprehensive Asset Management and Servicing, Inc. Parsippany, NJ
District 9 Nominating Committee Incoming Members
A. Louis Denton Peterson Investments, Inc. Blue Bell, PA
Peter P. Jenkins Credit Suisse Securities (USA) LLC Baltimore, MD
W. Dean Karrash Burke, Lawton, Brewer & Burke Spring House, PA
Gregg A. Kidd Pinnacle Investments Inc. East Syracuse, NY
Harold N. Peremel Mercantile Brokerage Services, Inc. Baltimore, MD

District 10
Hans L. Reich, Regional Director
165 Broadway, 52nd Floor
New York, NY 10006-1400
(212) 858-4000
New York (the counties of Nassau and Suffolk, and the five boroughs of New York City)
District 10 Committee Incoming Members
James A. Brodie, Jr.
(petition candidate)
Carr Securities Corporation Port Washington, NY
Kathryn G. Casparian CIBC World Markets Corp. New York, NY
Paul S. Ehrenstein
(petition candidate)
Zenith American Securities Corporation New York, NY
Craig B. Jampol3 Caris & Company New York, NY
James D. Lamke Bear Stearns & Co. Inc. New York, NY
District 10 Nominating Committee Incoming Members
Margaret M. Caffrey Schonfeld & Company, LLC Jericho, NY
Lon T. Dolber American Portfolios Financial Services, Inc. Holbrook, NY
George T. Mimura Nomura Securities International, Inc. New York, NY
Richard J. Paley Carey Financial Corporation New York, NY
Howard R. Plotkin Lehman Brothers Inc. New York, NY

District 11
Frederick F. McDonald, District Director
99 High Street, Suite 900
Boston, MA 02110
(617) 532-3400
Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont
District 11 Committee Incoming Members
Michael E. Callaghan Harvest Capital LLC Wethersfield, CT
Tina Blakeley Maloney
(petition candidate)
Winslow, Evans & Crocker, Inc. Boston, MA
Therese M. Squillacote ING Financial Advisors, LLC Hartford, CT
District 11 Nominating Committee Incoming Members
David K. Booth Jefferson Pilot Securities Corp. Concord, NH
Mark R. Hansen Alta Capital Group, LLC Boston, MA
Thomas F. Hollenbeck National Financial Services, LLC Wellesley Hills, MA
Wilson G. Saville Barrett & Company Providence, RI
National Adjudicatory Council—New York Region Seat
Samuel F. Lek
(petition candidate)
Lek Securities Corporation New York, NY
National Adjudicatory Council—West Region Seat
David P. Alsup
(petition candidate)
North American Clearing, Inc. Laguna Hills, CA

1 Mr. Cherrier has been elected to serve the remaining year of the term of Stephen R. Oliver, who resigned from the District Committee.

2 Mr. Smith has been elected to serve the remaining year of the term of Erick R. Holt, who resigned from the District Committee.

3 Mr. Jampol has been elected to serve the remaining year of the term of Jeffrey T. Letzler, who resigned from the District Committee.

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