New Corporation, New Structure
NASD Regulation’s Office of Dispute Resolution, which received permission from the SEC to be spun off into a separate subsidiary last fall, has completed the transition.
The NASD announced July 17 that a new subsidiary company under the umbrella of the NASD has been established to administer NASD arbitration, mediation, and other ADR services. Linda D. Fienberg is the subsidiarys new President and George H. Friedman its Senior Vice-President.
The new sub, now known as NASD Dispute Resolution, Inc., became operational on July 9, 2000. A six-member Board of Directors will set policy and consider rule changes. NDR staff will confer as well with the Boards National Arbitration and Mediation Committee, which is balanced between industry and non-industry members.
NASD bills the creation of this new subsidiary as strengthening the independence and credibility of the arbitration and mediation functions (presumably by separating it from NASD Regulation, Inc.), while raising its corporate status.
Address, telephone and fax numbers remain the same for the new companys New York headquarters.
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Mark Astarita is a nationally recognized securities attorney, who represents investors, financial professionals and firms in securities litigation, arbitration and regulatory matters, including SEC and FINRA investigations and enforcement proceedings.
He is a partner in the national securities law firm Sallah Astarita & Cox, LLC, and the founder of The Securities Law Home Page - SECLaw.com, which was one of the first legal topic sites on the Internet. It went online in 1995 and is updated daily with news, commentary and securities law related links.