View Whole SectionText only Print Print Manager Link
Previous Next

06-29 NASD Announces Nomination Procedures for Regional Industry Member Vacancies on the National Adjudicatory Council; Nomination Deadline: July 17, 2006

View PDF File

GUIDANCE

NAC Nominations

SUGGESTED ROUTING

KEY TOPICS

Legal & Compliance
Senior Management
National Adjudicatory Council

Executive Summary

The purpose of this Special Notice to Members is to advise members of the nomination procedures to fill two upcoming vacancies on the National Adjudicatory Council (NAC). The three-year terms of the NAC regional Industry members from the New York and West Regions will expire in January 2007. Exhibit I contains information regarding the NAC regional Industry members whose terms expire in January 2007. Exhibit II contains a list of all 2006 NAC members. The procedures to fill the NAC regional Industry vacancies are outlined in Exhibit III. Also, a Candidate Profile Sheet is included in Exhibit IV.

Nomination Process

Members are encouraged to submit nominations for the upcoming NAC vacancies. To nominate a candidate, members should submit a cover letter and the Candidate Profile Sheet (Exhibit IV) to the Regional Nominating Committee Chair, the NASD Regional or District Director, or the NASD Corporate Secretary (listed in Exhibit I) by July 17, 2006.

The completed Candidate Profile Sheets will be provided to the appropriate Regional Nominating Committee for review. On or about August 23, 2006, the Regional Nominating Committees will provide NASD members with written notice of the NAC candidates that the Committees propose for nomination to the National Nominating Committee. Pursuant to Article V, Section 5.3(a) of the NASD Regulation By-Laws, the NASD National Nominating Committee shall nominate all candidates for the NAC for subsequent appointment by the Board.

Questions/Further Information

Questions concerning this Special Notice may be directed to the Regional or District Directors listed in Exhibit I, or to Barbara Z. Sweeney, Senior Vice President and Corporate Secretary, NASD at (202) 728-8062 or via e-mail at barbara.sweeney@nasd.com.

National Adjudicatory Council Membership and Function

Membership

The NAC consists of 14 members—seven Industry members and seven Non-Industry members, three of whom are Public. Exhibit II contains a list of all current NAC members. Two Industry members are appointed by the NASD Regulation Board of Directors as at-large members. Five Industry members each represent one of the following geographic regions:

Midwest Region: Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.
New York: The counties of Nassau and Suffolk, and the five boroughs of New York City.
North Region: Connecticut, Delaware, the District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York (except for the counties of Nassau and Suffolk, and the five boroughs of New York City), Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia.
South Region: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Puerto Rico, the Canal Zone and the Virgin Islands.
West Region: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming and the former U.S. Trust Territories.

We are seeking nominations for the New York and West Regions.

Function

According to the NASD By-Laws, the NAC is authorized to act for the NASD Board of Governors in matters concerning:

•  appeals or reviews of disciplinary proceedings, statutory disqualification proceedings or membership proceedings;
•  the exercise of exemptive authority; and
•  other proceedings or actions authorized by NASD rules.

The NAC also considers and makes recommendations to the Board on enforcement policy and rule changes relating to the business and sales practices of NASD members and associated persons.


EXHIBIT I

NAC Industry Member with a Term Expiring in January 2007

New York Region (District 10)

NAC Incumbent: Judith R. MacDonald

If you are interested in nominating yourself or a colleague to represent the New York Region for a three-year term on the NAC, please submit a cover letter and a completed Candidate Profile Sheet (Exhibit IV) to any of the following individuals by July 17, 2006.

Lon T. Dolber
Regional Nominating Committee Chair


American Portfolios Financial Services
4250 Veterans Memorial Highway
Holbrook, NY 11741

(631) 439-4600
(631) 439-1325 fax

Hans L. Reich
Regional Director, District 10


One Liberty Plaza
165 Broadway
New York, NY 10006

(212) 858-4000
(212) 858-4078 fax

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary


NASD
1735 K Street, NW
Washington, DC 20006

(202) 728-8062
(202) 728-8075 fax

NAC Industry Member with a Term Expiring in January 2007

West Region (Districts 1, 2 and 3)

NAC Incumbent: Neal E. Nakagiri

If you are interested in nominating yourself or a colleague to represent the West Region for a three-year term on the NAC, please submit a cover letter and a completed Candidate Profile Sheet (Exhibit IV) to any of the following individuals by July 17, 2006.

Arlene M. Wilson
Regional Nominating Committee Chair


D.A. Davidson & Co.
8 Third Street North
Great Falls, MT 59401

(406) 791-7456
(406) 268-3045 fax

Elizabeth P. Owens
Regional Director, District 1


525 Market Street
Suite 300
San Francisco, CA 94105-2711

(415) 882-1200
(415) 546-6991 fax

Lani M. Sen Woltmann
District Director, District 2


300 South Grand Avenue
Suite 1600
Los Angeles, CA 90071-3126

(213) 229-2300
(213) 617-3156 fax

Joseph M. McCarthy
District Director, District 3 (Denver)


370 17th Street
Suite 2900
Denver, CO 80202-5629

(303) 446-3100
(303) 620-9450 fax

James G. Dawson
District Director, District 3 (Seattle)


601 Union Street
Suite 1616
Seattle, WA 98101-2327

(206) 624-0790
(206) 623-2518 fax

Barbara Z. Sweeney
Senior Vice President and Corporate Secretary


NASD
1735 K Street, NW
Washington, DC 20006

(202) 728-8062
(202) 728-8075 fax


EXHIBIT II

2006 National Adjudicatory Council

Judith R. MacDonald, Chair Rothschild, Inc.
Constance E. Bagley Harvard Business School
Jayne W. Barnard College of William and Mary, Marshall-Wythe School of Law
Stephanie L. Brown LPL Financial Services
Thomas Donaldson University of Pennsylvania, Wharton School of Business
W. Dennis Ferguson Sterne Agee Clearing
Kathleen M. Hagerty Northwestern University, Kellogg School of Management
Timothy Henahan Baker & Co., Inc.
David M. Levine Deutsche Bank AG
Harold O. Levy Kaplan, Inc.
Neal E. Nakagiri NPB Financial Group, LLC
James M. Rogers J.J.B. Hilliard, W.L. Lyons, Inc.
William Wang University of California, Hastings College of the Law
Samuel Wolff Akin Gump Strauss Hauer & Feld LLP

EXHIBIT III

National Adjudicatory Council Nomination Procedures

1. NASD maintains Regional Nominating Committees in the manner specified in Article VI of the NASD Regulation By-Laws.
2. Members located in the New York and West Regions are hereby notified of the upcoming election of members to the National Adjudicatory Council and are encouraged to submit names of potential candidates to the Chair of the Regional Nominating Committee, NASD Regional or District Directors, or the NASD Corporate Secretary, Barbara Z. Sweeney (see Exhibit I) by July 17, 2006.
3. Nominees will be asked to complete a Candidate Profile Sheet, which will be reviewed by the appropriate Regional Nominating Committee.
4. The Regional Nominating Committee shall review the background of the candidates and the description of the NASD membership provided by NASD staff and shall propose to the National Nominating Committee one or more candidates for the National Adjudicatory Council. In proposing a candidate for nomination, the Regional Nominating Committee shall endeavor to secure appropriate and fair representation of the region.
5. On or about August 23, 2006, the Regional Nominating Committee shall notify in writing the Executive Representatives and branch offices of the NASD members in the region of the name of the candidate or candidates it will propose to the National Nominating Committee for the National Adjudicatory Council.
6. If an officer, director or employee of an NASD member in the region is not proposed for nomination by the Regional Nominating Committee and wants to seek the nomination, he or she shall send a written notice to the Regional Nominating Committee Chair or the Secretary of NASD within 14 calendar days after the mailing date of the Regional Nominating Committee's notice (#5 above) and proceed in accordance with the Contested Nomination Procedures found in Article VI of the NASD Regulation By-Laws.
7. If no additional candidate comes forward within 14 calendar days, the Regional Nominating Committees shall certify their candidates to the National Nominating Committee. Additional information pertaining to the National Adjudicatory Council Election Procedures can be found in Article VI of the NASD Regulation By-Laws. The By-Laws can be found in the online NASD Manual at www.nasd.com.

EXHIBIT IV

Please download Candidate Profile Sheet in PDF format.


Previous Next