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05-54 NASD Announces Nominee for Regional Industry Member Vacancy on the National Adjudicatory Council

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NAC Nominee



Legal and Compliance
Senior Management

National Adjudicatory Council

Executive Summary

The purpose of this Special Notice to Members is to announce the nominee for the National Adjudicatory Council (NAC) from the North Region. The nominee, nominated for a three-year term beginning in January 2006, is listed in Exhibit I. The nominee will be proposed to NASD's National Nominating Committee unless an additional candidate comes forward within 14 calendar days from the date of this Special Notice.

We appreciate the interest shown by many members in expressing their desire to serve on the NAC and thank everyone for their continuing support of the self-regulatory process. The North Regional Nominating Committee thoroughly reviewed the background of every candidate before selecting their nominee in an effort to secure appropriate and fair representation of the region.

Contested Election Procedures

If an officer, director, or employee of an NASD member in the North Region has not been proposed for nomination by the Regional Nominating Committee and wants to seek the nomination, he or she should send a written notice to Barbara Z. Sweeney, NASD's Corporate Secretary, at the address below within 14 calendar days after the publishing date (August 25) of this Special Notice.

Barbara Z. Sweeney
Office of the Corporate Secretary
1735 K Street, NW
Washington, DC 20006-1506

The Contested Nomination Procedures can be found in Article VI of the NASD Regulation By-Laws. If no additional candidate comes forward within 14 calendar days, the North Regional Nominating Committee shall certify its candidate to the National Nominating Committee.

Questions/Further Information

Questions concerning this Special Notice may be directed to Barbara Z. Sweeney, Senior Vice President and Corporate Secretary, at (202) 728-8062, or via e-mail at:

National Adjudicatory Council Membership and Function


The NAC consists of 14 members—seven Industry members and seven Non-Industry members. Two Industry members are nominated by NASD's National Nominating Committee and are appointed by the Board of Directors of NASD Regulation, Inc., 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 (Districts 4 and 8)
New York: New York (the counties of Nassau and Suffolk, and the five boroughs of New York City) (District 10)
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 (Districts 9 and 11)
South Region: Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, the Canal Zone, Puerto Rico, and the Virgin Islands (Districts 5, 6, and 7)
West Region: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming, and the former U.S. Trust Territories (Districts 1, 2, and 3)

One region (North) has a vacancy for this election. NAC members for the other four regions (New York, Midwest, South, and West) are indicated in Exhibit II, along with the year in which their terms expire.


According to the NASD Regulation 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 the Rules of NASD.

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.


Nominee for NAC Industry Member Vacancy

North Region
(Districts 9 and 11)
Stephanie L. Brown Linsco/Private
Ledger Corporation
Boston, MA


NAC Member with Term Expiring in January 2006

North Region A. Louis Denton Philadelphia Corporation
for Investment Services
Philadelphia, PA

NAC Members with Terms Expiring in January 2007

New York Judith R. MacDonald Rothschild, Inc. New York, NY
West Region Neal E. Nakagiri   Van Nuys, CA

NAC Members with Terms Expiring in January 2008

Midwest Region Timothy Henahan Baker & Co., Inc. Rocky River, OH
South Region W. Dennis Ferguson Sterne Agee Clearing Boca Raton, FL

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