NASD Gets OK to Form Dispute Resolution, Inc.

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 subsidiary’s 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 Board’s 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 company’s New York headquarters.


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