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06-24 NASD Informs Members of Upcoing District Committee and District Nominating Committee Elections

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GUIDANCE

District Elections

SUGGESTED ROUTING

KEY TOPICS

Executive Representatives
Legal & Compliance
Operations
Registration
Senior Management
District Elections

Executive Summary

The purpose of this Special Notice to Members is to inform members of the upcoming nomination and election process to fill forthcoming vacancies on NASD District Committees and District Nominating Committees.

Information on District Committee and District Nominating Committee members currently serving through 2007, 2008 and 2009 is included in Attachment A. Information on District Election Procedures is included in Attachment B. A blank candidate profile sheet is also included (Attachment C).

Background

The NASD District Committees serve an important role within NASD by supporting NASD's mission to regulate securities markets for the ultimate benefit and protection of investors. Among other things, District Committee members:

•  Alert staff to industry trends that could be a potential regulatory concern.
•  Consult with NASD staff on proposed policies and rule changes brought to a District Committee for its views.
•  Serve on Disciplinary Panels in accordance with NASD Rules.
•  Promote NASD's mission and stated positions.

Committee members must have the experience, ability and commitment to fulfill these responsibilities, including:

•  Understanding the issues facing the securities industry and possessing the ability to apply knowledge and expertise to these issues to develop solutions.
•  Fostering member interest and participation in NASD.
•  Educating members in their District on the work of NASD.
•  Attending regularly and participating professionally, effectively, and in a collegial manner in District Committee meetings.
•  Remaining objective and unbiased in the performance of District Committee matters.

Committee members must also adhere to certain prohibitions and restrictions. These include:

•  Refraining from serving as an expert witness in NASD disciplinary hearings or arbitrations.
•  Being sensitive to conflicts, and refraining from participating in a particular matter when a conflict exists.
•  Refraining from using membership on the District Committee for commercial purposes, or otherwise suggesting special access to NASD.
•  Keeping sensitive, non-public, or propriety information confidential.

Nomination Process

Individuals from member firms of all sizes and segments of the industry are encouraged to submit names for consideration for membership on the 11 District Committees and District Nominating Committees. In this election, each District Committee will have three vacancies to fill, with the exception of District 10, which will have four.1 The term of office for District Committee members is three years. Each District Nominating Committee will have five vacancies to fill for a one-year term. Persons who are interested in serving on the District Committee or the District Nominating Committee within their district must complete a candidate profile sheet (Attachment C) and submit it by hand delivery, courier service, mail or facsimile to the District Director. Completed candidate profile sheets must be received by the District Director on or before June 23, 2006. Persons who submit candidate profile sheets after this date will not be considered. NASD encourages current and former committee members to assist NASD by soliciting candidates for both committees.

Article VIII, Sections 8.2 and8.9 of the NASD Regulation By-Laws establish formal eligibility requirements for members of the District Committee and District Nominating Committee. They provide that such members:

1) Be registered with an NASD member eligible to vote in the district for District Committee elections; and
2) Work primarily from such NASD member's principal office or a branch office that is located within the district where the member serves on a District Committee or District Nominating Committee.

Completed nomination forms that are received by June 23, 2006, will be provided to all members of the appropriate District Nominating Committee for review. It is anticipated that on or before July 28, 2006, each District Director, acting on behalf of the District Nominating Committee, will notify the Secretary of NASD of each candidate nominated by the District Nominating Committee and the committee to which the candidate is nominated.

Members are reminded of the importance to accurately maintain their Executive Representative name and email address information, as well as their firm's main postal address. This will ensure that member mailings, such as election information, will be properly directed. Failure to keep this information accurate may jeopardize the member's ability to participate in District elections as well as other member votes. To update the Executive Representative name and email address, firms should access the NASD Contact System, located on NASD's Web site at www.nasd.com/ncs.

To update postal address information, the firm must file a Form BD Amendment via the Web CRD system. For assistance updating either of these systems, you may contact our Call Center at (301) 590-6500.

Questions/Further Information

Questions concerning this Special Notice may be directed to the District Director noted, or to Barbara Z. Sweeney, Senior Vice President and Corporate Secretary, NASD, at (202) 728-8062, or via email at barbara.sweeney@nasd.com.


1 In some cases, a District Committee may have additional vacancies to fill if a member of the District Committee has resigned since the last election, as indicated in Attachment A.


ATTACHMENT A

District 1

Elisabeth P. Owens, Regional Director, West Region
525 Market Street, Suite 300, San Francisco, CA 94105-2711
(415) 882-1201
(415) 546-6991 fax

District Committee for District 1—Chair: William A. Evans
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
William A. Evans Stone & Youngberg, LLC San Francisco, CA
Mansoor Kisat Citigroup Global Markets, Inc. Santa Rosa, CA
Arthur E. Raitano Hoefer & Arnett, Inc. San Francisco, CA
     
Committee Members to Serve Until January 2008
Howard Bernstein Pacific Growth Equities, LLC San Francisco, CA
Bruce Nollenberger, Vice Chair Nollenberger Capital Partners, Inc. San Francisco, CA
Daniel W. Roberts Roberts & Ryan Investments Inc. San Francisco, CA
     
Committee Members to Serve Until January 2009
Christopher D. Charles Wulff, Hansen & Co. San Francisco, CA
Kevin T. Kitchin Wachovia Securities, LLC San Francisco, CA
Edward M. Stephens FSC Securities Corporation Santa Rosa, CA

District Nominating Committee for District 1—Chair: Nicholas C. Cochran
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
S. Katherine Campbell Protected Investors of America Berkeley, CA
Nicholas C. Cochran American Investors Company San Ramon, CA
Gerard P. Gloisten GBS Financial Corporation Santa Rosa, CA
Robert A. Muh Sutter Securities, Inc. San Francisco, CA
Francis X. Roches II RBC Dain Rauscher, Inc. San Francisco, CA

District 2

Lani M. Sen Woltmann, District Director
300 South Grand Avenue, Suite 1600, Los Angeles, CA 90071-3126
(213) 613-2601
(213) 617-3156 fax

District Committee for District 2—Chair: Stephen B. Benton
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Stephen B. Benton Financial Network Investment Corporation El Segundo, CA
James M. S. Dillahunty Fixed Income Securities, LP San Diego, CA
J. Derek Lewis JDL Securities Corp. Newport Beach, CA
     
Committee Members to Serve Until January 2008
Kenneth R. Hyman Partnervest Securities, Inc. Santa Barbara, CA
Bryan R. Plank Merrill Lynch San Diego, CA
Valorie Seyfert, Vice Chair CUSO Financial Services, L.P. San Diego, CA
     
Committee Members to Serve Until January 2009
Steven K. Klein Farmers Financial Solutions, LLC Simi Valley, CA
Ishmael Manzanares, Jr. Madison Avenue Securities, Inc. San Diego, CA
Gary A. Martino brokerXpress, LLC Thousand Oaks, CA

District Nominating Committee for District 2—Chair: Don Dalis
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
M. LaRae Bakerink WBB Securities, LLC San Diego, CA
James E. Biddle The Securities Center Incorporated Chula Vista, CA
Don Dalis UBS Financial Services, Inc Newport Beach, CA
Barbara A. Kelley Pacific Global Investment Glendale, CA
Joel H. Ravitz Quincy Cass Associates Los Angeles, CA

District 3

Joseph M. McCarthy, District Director
370 17th Street, Suite 2900
Denver, CO 80202–5629
(303) 446-3100
(303) 620-9450 fax

James G. Dawson, District Director
601 Union Street, Suite 1616
Seattle, WA 98101–2327
(206) 624-0790
(206) 623-2518 fax

District Committee for District 3—Chair: Arlene M. Wilson
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Curtis J. Hammond Morgan Stanley Dean Witter, Inc. Bellevue, WA
J. Keith Kessel AFS Brokerage, Inc. Greenwood Village, CO
Arlene M. Wilson D.A. Davidson & Co. Great Falls, MT
     
Committee Members to Serve Until January 2008
Kathryn M. Dominick Welton Street Investments LLC Denver, CO
Craig A. Jackson, Vice Chair Northwest Consulting, LLC Roseburg, OR
Harry I. Striplin Paulson Investment Company, Inc. Portland, OR
     
Committee Members to Serve Until January 2009
David J. Director McAdams Wright Ragen, Inc. Seattle, WA
Daniel Lind Wells Fargo Investments Tucson, AZ
Steven M. Youhn M Holdings Securities, Inc Portland, OR

District Nominating Committee for District 3—Chair: Bridget M. Gaughan
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
Gregory R. Anderson MCL Financial Group, Inc. Denver, CO
L. Hoyt DeMers Wells Fargo Investments, LLC Seattle, WA
Bridget M. Gaughan AIG Financial Advisors, Inc. Phoenix, AZ
John W. Goodwin Goodwin Browning & Luna Securities, Inc. Albuquerque, NM
C. Frederick Roed McAdams Wright Ragen, Inc. Bellevue, WA

District 4

Thomas D. Clough, District Director
120 W. 12th Street, Suite 900, Kansas City, MO 64105
(816) 802-4708
(816) 421-5029 fax

District Committee for District 4—Chair: Mark T. Lasswell
Committee members to be elected to terms expiring January 2010: 3
Committee member to be elected to term expiring January 2008: 1

Committee Members to Serve Until January 2007
Joseph D. Fleming RBC Dain Rauscher Inc. Minneapolis, MN
Mark T. Lasswell Wells Fargo Brokerage Services, LLC Minneapolis, MN
Arthur S. Montgomery Walnut Street Securities, Inc. St. Louis, MO
     
Committee Members to Serve Until January 2008
Allen J. Moore SMITH HAYES Financial Services Lincoln, NE
Minoo Spellerberg Princor Financial Services Corporation Des Moines, IA
Vacancy1    

1 This vacancy was created by the resignation of Stephen R. Oliver. The term expires in January 2008.

Committee Members to Serve Until January 2009
Steven F. McWhorter Securities America, Inc. Omaha, NE
Brian D. Murphy Woodbury Financial Services, Inc. Woodbury, MN
Andrew C. Small Scottrade, Inc. St. Louis, MO

District Nominating Committee for District 4—Chair: Jeffrey A. Schuh
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
Deborah M. Castiglioni Cutter & Company, Inc. Chesterfield, MO
Robert M. Chambers A.G. Edwards & Sons, Inc. West Des Moines, IA
Frank H. Kirk Wachovia Securities, LLC Kansas City, MO
Kevin P. Maas PrimeVest Financial Services, Inc. St. Cloud, MN
Jeffrey A. Schuh Residential Funding Securities Corporation Minneapolis, MN

District 5

Warren A. Butler, Jr., Regional Director, South Region
1100 Poydras Street, Energy Centre, Suite 850
New Orleans, LA 70163-0802
(504) 522-6527
(504) 522-4077 fax

District Committee for District 5—Chair: R. Patrick Shepherd
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Jennifer Carty Scola Carty & Company, Inc. Memphis, TN
R. Patrick Shepherd Avondale Partners, L.L.C. Nashville, TN
Donald Winton Crews & Associates, Inc. Little Rock, AR
     
Committee Members to Serve Until January 2008
Philip J. Dorsey, Vice Chair Dorsey & Company, Inc. New Orleans, LA
Fred G. Eason Delta Trust Investments, Inc. Little Rock, AR
Harold L. Gladney Vining Sparks IBG, L.P. Memphis, TN
     
Committee Members to Serve Until January 2009
Curtis F. Bradbury, Jr. Stephens Inc. Little Rock, AR
William A. Geary Morgan Keegan & Company, Inc. Jackson, MS
Jefferson G. Parker Howard Weil Incorporated New Orleans, LA

District Nominating Committee for District 5—Chair: John J. Dardis
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
John J. Dardis Jack Dardis & Associates, Ltd. Metairie, LA
Carolyn R. May Simmons First Investment Group, Inc. Little Rock, AR
Douglas W. McQueen The Baker Group, LP Oklahoma City, OK
LeRoy H. Paris, II InvestLinc Securities, LLC Jackson, MS
David W. Wiley, III Wiley Bros.—Aintree Capital, L.L.C. Nashville, TN

District 6

Virginia F. M. Jans, District Director
12801 N. Central Expressway, Suite 1050, Dallas, TX 75243
(972) 701-8554
(972) 716-7646 fax

District Committee for District 6—Chair: Cynthia E. Besek
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Karen Banks Frost Brokerage Services, Inc. San Antonio, TX
Cynthia E. Besek Maplewood Investment Advisors, Inc. Dallas, TX
Brent T. Johnson Multi-Financial Securities Corporation Houston, TX
     
Committee Members to Serve Until January 2008
Bryan T. Emerson Starlight Investments, LLC Houston, TX
William H. Lowell Lowell & Co., Inc. Lubbock, TX
Michael A. Pagano, Vice Chair 1st Global Capital Corp. Dallas, TX
     
Committee Members to Serve Until January 2009
Alan K. Goldfarb Oakbrook Financial Group, LLC Dallas, TX
John Christopher Melton Coastal Securities, L.P Houston, TX
Ralph E. Poppell Stanford Group Company Houston, TX

District Nominating Committee for District 6—Chair: V. Keith Roberts
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
William D. Felder Southwest Securities, Inc. Dallas, TX
Sennett Kirk, III Kirk Securities Corporation Denton, TX
Gary V. Murray Murray Traff Securities Tyler, TX
John R. Muschalek First Southwest Company Dallas, TX
V. Keith Roberts Stanford Group Company Huston, TX

District 7

Daniel J. Stefek, District Director
One Securities Centre, Suite 500
3490 Piedmont Road, NE
Atlanta, GA 30305
(404) 239-6128
(404) 237-9290 fax

Mitchell C. Atkins, District Director
Crystal Corporate Center
2500 N. Military Trail, Suite 302
Boca Raton, FL 33434
(561) 443-8010
(561) 443-7995 fax

District Committee for District 7—Chair: Susan J. Hechtlinger
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Susan J. Hechtlinger Banc of America Investment Services, Inc. Charlotte, NC
Landrum H. Henderson, Jr. Legg Mason Wood Walker, Inc. Charlotte, NC
Alan L. Maxwell, Jr. Wachovia Capital Markets, LLC Charlotte, NC
     
Committee Members to Serve Until January 2008
Erick R. Holt, Esq. AMVESCAP Atlanta, GA
William G. McMaster, Vice Chair Scott & Stringfellow, Inc. Columbia, SC
Charles F. O'Kelley Atlantic Coast Securities Corporation Tampa, FL
     
Committee Members to Serve Until January 2009
John B. Busacca North American Clearing, Inc. Longwood, FL
Marc A. Ellis GunnAllen Financial, Inc. Tampa, FL
Ronald J. Kovack Kovack Securities, Inc. Ft. Lauderdale, FL

District Nominating Committee for District 7—Chair: Roark A. Young
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
Richard G. Averitt, III Raymond James Financial Services, Inc. St. Petersburg, FL
Joseph B. Gruber FSC Securities Corporation Atlanta, GA
Dennis S. Kaminski Mutual Service Corporation West Palm Beach, FL
James A. Klotz FMSBonds, Inc. North Miami Beach, FL
Roark A. Young Young, Stovall and Company Miami, FL

District 8

Carla A. Romano, Regional Director, Midwest Region
55 West Monroe Street, Suite 2700, Chicago, IL 60603-5052
(312) 899-4324
(312) 899-4399 fax

District Committee for District 8—Chair: Michael E. Bosway
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Michael E. Bosway City Securities Corporation Indianapolis, IN
Mari Buechner Coordinated Capital Securities, Inc. Madison, W
Robert J. Michelotti Ferris, Baker Watts Incorporated Auburn Hills, MI
     
Committee Members to Serve Until January 2008
Richard M. Arceci ValMark Securities, Inc. Akron, OH
Ronald J. Dieckman. J.J.B. Hilliard, W.L. Lyons, Inc. Louisville, KY
Julie E. Vander Weele Mesirow Financial, Inc. Chicago, IL
     
Committee Members to Serve Until January 2009
Stephen F. Anderson Waterstone Financial Group, Inc. Itasca, IL
Eric A. Bederman Bernardi Securities, Inc. Chicago, IL
Barbara A. Turner The O.N. Equity Sales Company Cincinnati, OH

District Nominating Committee for District 8—Chair: Carol P. Foley
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
George E. Bates Bates Securities, Inc. Rockford, IL
Carol P. Foley Podesta & Company Chicago, IL
Ruth Hanneberg2 Mesirow Financial, Inc. Chicago, IL
Jill R. Powers Oberlin Financial Corpora Bryan, OH
James J. Roth Pershing LLC A BNY Securities Group Oak Brook, IL

2 Ms. Hanneberg was appointed to fill the vacancy created by the resignation of Bernard A. Breton. Ms. Hanneberg's term expires in January 2007.

District 9

Gary K. Liebowitz, Regional Director,
North Region
581 Main Street, 7th Floor
Woodbridge, NJ 07095
(732) 596-2025
(732) 596-2001 fax

John P. Nocella, District Director
1835 Market Street, Suite 1900
Philadelphia, PA 19103
(215) 963-1992
(215) 963-7442 fax

District Committee for District 9—Chair: Harold N. Peremel
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
Wayne F. Holly Sage, Rutty & Co., Inc. Rochester, NY
Peter P. Jenkins Credit Suisse First Boston LLC Baltimore, MD
Harold N. Peremel Mercantile Brokerage Services Inc. Baltimore, MD
     
Committee Members to Serve Until January 2008
Michael T. Corrao Knight Equity Markets LP Jersey City, NJ
Scott L. Fagin The Jeffrey Matthews Financial Group, L.L.C. Millburn, NJ
Rebecca L. Kohler Fidelity Investments Tax-Exempt Services Co. Roanoke, VA
     
Committee Members to Serve Until January 2009
John M. Ivan Janney Montgomery Scott LLC Philadelphia, PA
Brand F. Meyer Wachovia Securities, LLC Richmond, VA
Thomas T. Wallace Johnston, Lemon & Co. Incorporated Washington, DC

District Nominating Committee for District 9—Chair: Michael B. Row
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
Richard Grobman Oppenheimer & Co. Inc. Philadelphia, PA
W. Dean Karrash Burke, Lawton, Brewer & Burke Spring House, PA
Gregg A. Kidd Pinnacle Investments Inc. East Syracuse, NY
Michael S. Mortensen PNC Investments Pittsburgh, PA
Michael B. Row Pershing LLC Jersey City, NJ

District 10

Hans L. Reich, Regional Director, New York Region
One Liberty Plaza, 49th Floor, 165 Broadway, New York, NY 10006
(212) 858-4180
(212) 858-4078 fax

District Committee for District 10—Chair: Howard R. Plotkin
Committee members to be elected to terms expiring January 2010: 4

Committee Members to Serve Until January 2007
Richard Berenger Sky Capital, LLC New York, NY
Lon T. Dolber American Portfolios Financial Services, Inc. Holbrook, NY
George T. Mimura Nomura Securities International, Inc. New York, NY
Howard R. Plotkin Lehman Brothers, Inc. New York, NY
     
Committee Members to Serve Until January 2008
Vincent A. Buchanan Buchanan Associates, Inc. New York, NY
Clifford H. Goldman Marco Polo Securities Inc. New York, NY
Jeffrey T. Letzler Instinet, LLC New York, NY
Howard Spindel Integrated Management Soluti New York, NY
     
Committee Members to Serve Until January 2009
Barry M. Cash Citigroup Global Markets Inc. New York, NY
Joseph DeBellis Sanford C. Bernstein & Co., LLC New York, NY
Robyn Jeffrey Oppenheimer & Co. Inc. New York, NY
Allen Meyer Credit Suisse First Boston LLC New York, NY

District Nominating Committee for District 10—Chair: Jennifer A. Connors
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
Margaret M. Caffrey Schonfeld & Company, LLC Jericho, NY
Jennifer A. Connors Lehman Brothers Inc New York, NY
Raymond C. Holland, Sr. Triad Securities Corp. New York, NY
Richard J. Paley Carey Financial Corporation New York, NY
Mark W. Ronda Oppenheimer & Co. Inc. New York, NY

District 11

Frederick F. McDonald, Jr., District Director
99 High Street, Suite 900, Boston, MA 02110
(617) 532-3401
(617) 451-3524 fax

District Committee for District 11—Chair: David K. Booth
Committee members to be elected to terms expiring January 2010: 3

Committee Members to Serve Until January 2007
David K. Booth Jefferson Pilot Securities Corp. Concord, NH
Thomas F. Hollenbeck J.P. Morgan Invest, LLC Boston, MA
Curtis L. Snyder, Jr. American Technology Research, Inc. Greenwich, CT
     
Committee Members to Serve Until January 2008
Frank L. Chandler Boston Capital Services, Inc Boston, MA
Joseph Gritzer USI Securities, Inc. Glastonbury, CT
Moira Lowe Sun Life Financial Wellesley Hills, MA
     
Committee Members to Serve Until January 2009
Martin W. Courage Bank of America Investment Services Boston, MA
Todd A. O'Connor Investors Securities Services LLC Boston, MA
Robert J. Reilly Piper Jaffray & Co. Boston, MA

District Nominating Committee for District 11—Chair: Mark R. Hansen
Committee members to be elected to terms expiring January 2008: 5

Committee Members to Serve Until January 2007
Michael C. Braun Moors & Cabot, Inc. Boston, MA
Andrew F. Detwiler Virtua Research
An affiliate of Vandham Securities Corp.
Boston, MA
Mark R. Hansen Alta Capital Group, LLC Boston, MA
Lee G. Kuckro Advest, Inc. Hartford, CT
Wilson G. Saville Barrett & Company Providence, RI

ATTACHMENT B

Procedures for Electing District Committee and District Nominating Committee Members

1. Each NASD District shall maintain a District Nominating Committee in the manner specified in Article VIII of the NASD Regulation By-Laws.
2. The Secretary of NASD has sent a letter to each District Nominating Committee member and each District Director identifying the members of the District Committee and the District Nominating Committee whose terms expire in January 2007. The letter describes the election procedures to be followed in filling these positions.
3. The Secretary of NASD and the Corporate Communications Department will email a reminder to all members of their responsibility, and obligation, to keep current and accurate the information on their Executive Representative. The email will contain a reference to the NASD Contact System, located on NASD's Web site at www.nasd.com/ncs, for changing a firm's Executive Representative name, email and postal address. This email will note that failure to keep this information accurate may jeopardize the member's ability to participate in the district elections, as well as in other member votes.
4. The Secretary of NASD will send a Notice to Members announcing the forthcoming elections to the Executive Representative of all NASD members eligible to vote in each district. The Notice to Members will identify: (a) the number of positions that need to be filled in each district; and (b) the incumbent members of each District Committee. Persons who are interested in serving on the District Committee or the District Nominating Committee within their district must complete a candidate profile sheet and submit it by hand delivery, courier service, mail or facsimile to the District Director. Completed candidate profile sheets must be received by the District Director on or before June 23, 2006. Persons who submit candidate profile sheets after this date will not be considered.

Completed candidate profile sheets received by the District Director on or before June 23, 2006, will be provided to all members of the appropriate District Nominating Committee for review. During this stage of the election process, the District Nominating Committee identifies and solicits candidates to nominate for election to the District Committee and the District Nominating Committee.
5. Soon after the expiration of the time allotted in the Notice to Members to submit names and candidate profile sheets for consideration, the District Nominating Committee will meet to determine its slate of candidates for the election. NASD staff will provide the District Nominating Committee members with information considered to be relevant to the nomination process, including:
•   analytical data pertaining to the district's membership; and
•   relevant candidate profile sheets.
6. In determining its slate of candidates for the election, the District Nominating Committee will review the background and qualifications of the proposed candidates, and endeavor to secure appropriate and fair representation on the District Committee and on the District Nominating Committee of the various sections of the district and various classes and types of NASD members engaged in the investment banking or securities business within the district. The slate must include the same number of nominees as there are positions to be filled on the District Committee and the District Nominating Committee.

A District Nominating Committee may not nominate more than two incumbent members of the District Nominating Committee to succeed themselves, nor may District Nominating Committee members serve more than two consecutive terms. A majority of the members of the District Nominating Committee must include persons who previously have served on a District Committee or who are current or former Governors of the NASD Board.

The District Nominating Committee may also nominate one alternate candidate for the District Committee and one alternate candidate for the District Nominating Committee. In the event of an uncontested election pursuant to Section 8.19 of the NASD Regulation By-Laws, the alternate candidate would replace any member of the nominated slate of candidates who withdrew or was determined to be ineligible.
7. On or before July 28, 2006, the District Director, acting on behalf of the District Nominating Committee, will notify the Secretary of NASD of each candidate nominated by the District Nominating Committee and the committee to which the candidate is nominated.
8. On or before October 1, 2006, the Secretary of NASD will send a Notice to Members to the District Committees and the Executive Representatives of NASD members eligible to vote in each district, identifying the nominees for the District Committees and the District Nominating Committees.

If the District Nominating Committee nominates the same number of nominees as there are positions to be filled on the District Committee and the District Nominating Committee and no additional candidate comes forward by delivering written notice to the appropriate District Director within 14 calendar days after the date of the Notice to Members identifying the nominees, the candidates nominated by the District Nominating Committee are considered duly elected.
9. If a person who is otherwise eligible to serve on the District Committee or the District Nominating Committee was not nominated by the District Nominating Committee and wants to be considered for election as an additional candidate, he/she must notify the District Director in writing within 14 calendar days after the date of the Notice to Members referenced in item 8 above. The District Director must make a written record of the time and date of the receipt of such notification.
10. Promptly following receipt of the additional candidate's timely notice, the Secretary of NASD will provide to the additional candidate a list of all NASD members eligible to vote in the district, their mailing addresses, and their Executive Representatives.
11. An additional candidate is considered nominated if a petition signed by the Executive Representative of at least 10 percent of the NASD members eligible to vote in the district is filed with the District Nominating Committee within 30 calendar days after the mailing date of the list to the additional candidate referenced in item 10 above.
12. If an additional candidate secures the required petition within the 30-day designated timeframe, the election is considered a contested election. The Secretary of NASD will send a Notice to Members to the Executive Representatives of NASD members eligible to vote in the district announcing the names of all candidates and describing the contested election procedures.

Additional information pertaining to the District Committee and District Nominating Committee Election Procedures may be found in Article VIII of the NASD Regulation By-Laws.

ATTACHMENT C

Please download Candidate Profile Sheet in PDF format.


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