Notice to Members 99-40

NASD Informs Members Of Upcoming District Committee And District Nominating Committee Elections

Published Date:

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Executive Summary

The purpose of this Special Notice to Members is to advise members of the impending election to fill forthcoming vacancies on the District Committees and the District Nominating Committees. The procedures to fill these vacancies are included with this Special Notice to Members. Members are encouraged and requested to submit names of candidates to the appropriate District Nominating Committee Chairman or to the District Director by June 15, 1999. Individuals from member firms of all sizes are encouraged to submit names for consideration on the District Committees and District Nominating Committees. Every District Committee will have at least one member from a small firm. Information on District Nominating Committee and District Committee members serving through 2001 and 2002 is included in Exhibit I. Information on District Election Procedures is included in Exhibit II.

All candidates will be requested to complete a biographical form. The District Director will provide each nominee with a biographical form for completion. The completed form will be provided to all District Nominating Committee members for review.

Members are reminded to report Executive Representative information and address changes for the firm's main and branch offices. This will ensure that member mailings, such as election information, will be properly directed. See Notice to Members 99-36 on the NASDRSM Web Site (www.nasdr.com) for more information. Failure to keep this information accurate may jeopardize the member's ability to participate in District elections as well as other member votes.

Questions concerning this Notice may be directed to the District Director noted or to Joan Conley, Corporate Secretary, National Association of Securities Dealers, Inc. (NASD®), at (202) 728-8381.

Exhibit I

DISTRICT 1
Elisabeth P. Owens, District Director
525 Market Street, Suite 300
San Francisco, CA 94105
(415) 882-1200

District Committee Vacancies: 3

District Committee Chair: William A. Svoboda

District Nominating Committee Chair: John J. Sanders, Jr.

To Serve Until January 2001
Steven R. Aaron Hambrecht & Quist LLC, San Francisco, CA
Janet W. Campbell Protected Investors of America, San Francisco, CA
Douglas C. Heske Piper Jaffray, San Francisco, CA
To Serve Until January 2002
John H. Chung First Security Van Kasper, San Francisco, CA
Steven D. Piper Volpe Brown Whelan & Company LLC, San Francisco, CA
Nominating Committee
Deborah R. Gatzek Franklin/Templeton Distributors, San Mateo, CA
John C. Helmer Caldwell Securities, Inc., Danville, CA
Lawrence R. McKulla Prudential Securities, San Francisco, CA
John J. Sanders, Jr. BancBoston Robertson Stephens, Inc., San Francisco, CA
John E. Schmidt Credit Suisse First Boston, San Francisco, CA

If you are interested in nominating yourself or a colleague to the District 1 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 2
Lani M. Sen Woltmann, District Director
300 South Grand Avenue, Suite 1600
Los Angeles, CA 90071
(213) 627-2122

District Committee Vacancies: 4

District Committee Chair: Joan B. Seidel

District Nominating Committee Chair: Will be selected May 1999

To Serve Until January 2001
James B. Guillou Sutro & Co., Incorporated, La Jolla, CA
Andrew E. Haas Bear Stearns & Co., Inc., Los Angeles, CA
Richard E. Wiseley CIBC Oppenheimer & Co., Los Angeles, CA
Richard P. Woltman Spelman & Co., Inc., San Diego, CA
To Serve Until January 2002
Margaret M. Black Morgan Stanley Dean Witter, Beverly Hills, CA
Diane P. Blakeslee Blakeslee & Blakeslee, Inc., San Louis Obispo, CA
Jack R. Handy, Jr. Financial Network Investment Corporation, Torrance, CA
Dean A. Holmes American General Financial Group, Anaheim, CA
Nominating Committee
George H. Casey Crowell Weedon & Co., Los Angeles, CA
Carl E. Lindros Santa Barbara Securities, Inc., Santa Barbara, CA
Fredric M. Roberts F. M. Roberts & Company, Los Angeles, CA
Robert L. Winston American Funds Distributors, Inc., Los Angeles, CA

If you are interested in nominating yourself or a colleague to the District 2 Committee or the District Nominating Committee, please contact any member of the District Nominating Committee or the District Director at the above address.

DISTRICT 3

Frank J. Birgfeld, District Director
Republic Plaza Building
370 17th Street, Suite 2900
Denver, CO 80202-5629
(303) 446-3100

James G. Dawson, District Director
Two Union Square
601 Union Street, Suite 1616
Seattle, WA 98101-2327
(206) 624-0790

District Committee Vacancies: 4

District Committee Chair: Thomas A. Petrie

District Nominating Committee Chair: Richard Royse

To Serve Until January 2001
Thomas R. Hislop Peacock, Hislop, Staley & Given, Inc., Phoenix, AZ
Gerald Meyer D. A. Davidson & Co., Great Falls, MT
John Morton Morton Clarke Fu & Metcalf, Inc., Seattle, WA
Terry Lee Richards PaineWebber, Inc., Salt Lake City, UT
To Serve Until January 2002
James Barnyak Salomon Smith Barney, Inc., Seattle, WA
David Griswold Frank Russell Securities, Inc., Tacoma, WA
James E. Stark Charles Schwab & Co., Phoenix, AZ
Thomas Williams TIAA/CREF, Denver, CO
Nominating Committee
Vincent Asaro SunAmerica Securities, Inc., Phoenix, AZ
James Kerr Ragen Mackenzie Incorporated, Seattle, WA
William Papesh WM Funds Distributor, Inc., Spokane, WA
Anthony Petrelli Neidiger Tucker Bruner, Inc., Denver, CO
Richard Royse Salomon Smith Barney, Inc., Portland, OR

If you are interested in nominating yourself or a colleague to the District 3 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 4
Jack Rosenfield, District Director
120 W. 12th Street, Suite 900
Kansas City, MO 64105
(816) 421-5700

District Committee Vacancies: 4

District Committee Chair: Wayne H. Peterson

District Nominating Committee Chair: Edward J. Berkson

To Serve Until January 2001
Antonio J. Cecin Piper Jaffray Inc., Minneapolis, MN
Cheryl Cook-Schneider Edward Jones, St. Louis, MO
Robert J. Goodmanson Robert W. Baird & Co., Inc., St. Paul, MN
Brent M. Weisenborn Security Investment Company of Kansas City, Kansas City, MO
To Serve Until January 2002
Robert M. Chambers Chambers Martin & Co., Des Moines, IA
John R. Lepley Princor Financial Services Corp., Des Moines, IA
William M. Lyons American Century Investment Services, Inc., Kansas City, MO
Nancy E. Varner Mercantile Investment Services, Inc., St. Louis, MO
Nominating Committee
Patricia S. Bartholomew Craig-Hallum Capital Group, Inc., Minneapolis, MN
Edward J. Berkson Locust Street Securities, Inc., Des Moines, IA
Norman Frager Walnut Street Securities, St. Louis, MO
Albert W. Lauth First St. Louis Securities, Inc., St. Louis, MO
Todd W. Miller Miller, Johnson & Kuehn, Inc., Minneapolis, MN

If you are interested in nominating yourself or a colleague to the District 4 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 5
Warren A. Butler, Jr., District Director
1100 Poydras Street
Energy Centre, Suite 850
New Orleans, LA 70163-0802
(504) 522-6527

District Committee Vacancies: 3

District Committee Chair: J. French Hill

District Nominating Committee Chair: James C. Bradford, Jr.

To Serve Until January 2001
Benjamin D. Capshaw, III Morgan Stanley Dean Witter, New Orleans, LA
James S. Jones Crews & Associates, Inc., Little Rock, AR
Dene R. Shipp SunTrust Equitable Securities, Nashville, TN
John C. West EVERN Securities, Inc., Memphis, TN
To Serve Until January 2002
James D. Hudgins SouthTrust Securities, Inc., Birmingham, AL
Leroy H. Paris, II Mississippi Securities Company, Jackson, MS
Duncan F. Williams Duncan-Williams, Inc., Memphis, TN
Nominating Committee
H. Kenneth Bennett Stephens, Inc., Little Rock, AR
James C. Bradford, Jr. J.C. Bradford & Co., Nashville, TN
Bill Carty Carty & Company, Inc., Memphis, TN
William T. Patterson Morgan Keegan & Company, Inc., Jackson, MS
Kenneth L. Wagner J.J.B. Hilliard, W.L. Lyons, Inc., Louisville, KY

If you are interested in nominating yourself or a colleague to the District 5 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 6
Bernerd Young, District Director
12801 N. Central Expressway, Suite 1050
Dallas, TX 75243
(972) 701-8554

District Committee Vacancies: 3

District Committee Chair: William D. Connally

District Nominating Committee Chair: George Stark

To Serve Until January 2001
Daniel C. Dooley May Financial Corp., Dallas, TX
Ronald J. Gard Salomon Smith Barney, Inc., Dallas, TX
Jim G. Rhodes Rhodes Securities, Inc., Ft. Worth, TX
To Serve Until January 2002
Fredrick W. McGinnis PaineWebber, Houston, TX
Sue H. Peden SWS Financial Services, Dallas, TX
Joseph H. Storthz Transamerica Financial Resources, Houston, TX
Nominating Committee
John W. Ferguson May Financial Corp., Dallas, TX
Robert Gunn, III Gunn & Company Incorporated, San Antonio, TX
William B. Madden Madden Securities Corporation, Dallas, TX
Gary V. Murray Murray Traff Securities, Inc., Tyler, TX
George Stark Burnham Securities, Inc., Houston, TX

If you are interested in nominating yourself or a colleague to the District 6 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 7
Alan M. Wolper, District Director
One Securities Centre, Suite 500
3490 Piedmont Road, NE
Atlanta, GA 30305
(404) 239-6100

District Committee Vacancies: 4

District Committee Chair: R. Charles Shufeldt

District Nominating Committee Chair: Richard V. McGalliard

To Serve Until January 2001
Robert M. Balentine Balentine & Company, Atlanta, GA
James J. Buddle Capital Brokerage Corporation, Richmond, VA
M. Anthony Greene Raymond James Financial Services, Inc., Atlanta, GA
J. Lee Keiger III Davenport & Company LLC, Richmond, VA
Raymond W. Snow BT Alex. Brown Incorporated, Palm Beach, FL
To Serve Until January 2002
James W. Hamilton, Jr. Prudential Securities Incorporated, Atlanta, GA
Edward R. Hipp, III Centura Securities, Inc., Rocky Mount, NC
Roark A. Young Young, Stovall and Company, Miami, FL
Nominating Committee
John L. Dixon Mutual Service Corporation, West Palm Beach, FL
Franklin C. Golden James M. Myers and Co., Charlotte, NC
W. Robb Hough, Jr. William R. Hough & Co., St. Petersburg, FL
Stuart J. Knobel Edgar M. Norris & Co., Inc., Anderson, SC
Richard V. McGalliard Interstate/Johnson Lane Corporation, Atlanta, GA

If you are interested in nominating yourself or a colleague to the District 7 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 8
Carlotta A. Romano, District Director
10 South LaSalle, 20th Floor
Chicago, IL 60603-1002
(312) 899-4400

William H. Jackson, Jr., District Director
Renaissance on Playhouse Square
1350 Euclid Avenue, Suite 650
Cleveland, OH 44115
(216) 694-4545

District Committee Vacancies: 3

District Committee Chair: Anthony M. Sanfilippo

District Nominating Committee Chair: Earl Clifford Oberlin, III

To Serve Until January 2001
William C. Alsover Centennial Securities Company, Inc., Grand Rapids, MI
Wallen L. Crane Salomon Smith Barney, Inc., Farmington Hills, MI
Alan H. Newman J.J.B. Hilliard, W.L. Lyons, Inc., Evansville, IN
Bruce J. Young Mesirow Financial, Inc., Chicago, IL
To Serve Until January 2002
R. Jack Conley VESTAX Securities Corporation, Hudson, OH
Mary D. Esser Cressman Esser Securities, Inc., Naperville, IL
Glen Hackmann Robert W. Baird & Co., Inc., Milwaukee, WI
Robert A. Perrier Butler, Wick & Co., Inc., Cleveland, OH
Kathleen A. Wieland William Blair & Company, L.L.C., Chicago, IL
Nominating Committee
Kathy J. Birk Morgan Stanley Dean Witter, Carmel, IN
Lewis H. Echlin Roney & Co., L.L.C., Detroit, MI
Paul Murin David A. Noyes & Co., Chicago, IL
Earl Clifford Oberlin, III SKY Investments Corp., Bryan, OH
William H. Richardson Trubee, Collins & Co., Inc., Buffalo, NY

If you are interested in nominating yourself or a colleague to the District 8 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 9
John P. Nocella, District Director
11 Penn Center
1835 Market Street, Suite 1900
Philadelphia, PA 19103
(215) 665-1180

Gary K. Liebowitz, District Director
581 Main Street, 7th floor
Woodbridge, NJ 07095
(732) 596-2000

District Committee Vacancies: 4

District Committee Chair: James Malespina

District Nominating Committee Chair: John J. Gray

To Serve Until January 2001
Victor M. Frye Calvert Distributors, Inc., Bethesda, MD
Phillip C. Graham Legg Mason Wood Walker, Incorporated, Philadelphia, PA
Jerome J. Murphy Janney Montgomery Scott Inc., Philadelphia, PA
To Serve Until January 2002
A. Louis Denton Philadelphia Corporation for Investment Services, Philadelphia, PA
Thomas W. Neumann Sherwood Securities Corp., Jersey City, NJ
Joseph S. Rizzello Vanguard Marketing Corporation, Valley Forge, PA
Gregory R. Zappala RRZ Public Markets, Inc., Cranberry Township, PA
Nominating Committee
Mark W. Cresap Cresap, Inc., Radnor, PA
John J. Gray Janney Montgomery Scott Inc., Philadelphia, PA
Dennis V. Marino Sherwood Securities Corp., Jersey City, NJ
Eric H. Pookrum Innova Securities, Inc., Suitland, MD
Robert A. Woeber Arthurs, Lestrange & Company Incorporated, Pittsburgh, PA

If you are interested in nominating yourself or a colleague to the District 9 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 10
David A. Leibowitz, Sr., District Director
NASD Financial Center
33 Whitehall Street
New York, NY 10004
(212) 858-4000

District Committee Vacancies: 3

District Committee Chair: Joan Caridi

District Nominating Committee Chair: Michael F. Dura

To Serve Until January 2001
Herbert Ackerman Neuberger & Berman, LLC, New York, NY
Arthur S. Ainsberg Brahman Securities Inc., New York, NY
Williams P. Behrens Ernst & Co., New York, NY
Laurence H. Bertan Sanford C. Bernstein & Co., Inc., New York, NY
Mark D. Madoff Bernard L. Madoff Investment Securities, New York, NY
Stuart L. Sindell Dillon, Read & Co., Inc., New York, NY
To Serve Until January 2002
John Lachello Ing Baring Furman Selz, New York, NY
Philip V. Oppenheimer Oppenheimer & Close Inc., New York, NY
Gary Salamone Schroder & Co. Inc., New York, NY
Eugene A. Schlanger Nomura Securities International, Inc., New York, NY
Lawrence F. Sherman Mony Securities Corp., New York, NY
Tom M. Wirtshafter Nathan & Lewis Securities Inc., New York, NY
Nominating Committee
Michael F. Dura Schroder & Co., Inc., New York, NY
Joseph A. Gottlieb Bear, Stearns & Co. Inc., New York, NY
Joan S. Green BT Brokerage Corporation, New York, NY
Norman H. Pessin Neuberger & Berman, New York, NY
Stuart J. Voisin Stuart, Coleman & Co., Inc., New York, NY

If you are interested in nominating yourself or a colleague to the District 10 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

DISTRICT 11
Willis H. Riccio, District Director
260 Franklin Street, 16th Floor
Boston, MA 02110
(617) 261-0800

District Committee Vacancies: 4

District Committee Chair: Stephanie Brown

District Nominating Committee Chair: Mary Toumpas

To Serve Until January 2001
Michael J. Dell'Olio Investment Management and Research, Inc., South Portland, ME
Frank V. Knox, Jr. Fidelity Distributors Corporation, Boston, MA
Laurie Lennox SunLife of Canada (U.S.) Distributors, Inc., Boston, MA
Kenneth Unger,/td> Boston Capital Services, Inc., Boston, MA
To Serve Until January 2002
Stephen O. Buff BancBoston Robertson Stephens, Boston, MA
Gerard A. Rocchi W.S. Griffith & Co., Inc., Hartford, CT
James P. Rybeck The RYBECK, Division of Fechtor, Detwiler & Co., Inc., Meriden, CT
Dennis R. Surprenant Cantella & Co., Inc., Boston, MA
Nominating Committee
John A. Goc Boston Institutional Services, Boston, MA
Grant Kurtz Advest, Inc., Hartford, CT
Wilson G. Saville,/td> Barrett & Company, Providence, RI
Edward L. Sherr Carl P. Sherr & Company, Worcester, MA
Mary Toumpas American Skandia Marketing, Inc., Shelton, CT

If you are interested in nominating yourself or a colleague to the District 11 Committee or the District Nominating Committee, please contact the District Nominating Committee Chairman or the District Director at the above address.

Exhibit II

NASD Regulation, Inc.

1999 District Election Procedures For Year 2000/District Committees And District Nominating Committees

Regular Election

1. Each NASD Regulation® District shall maintain a District Nominating Committee in the manner specified in Article VIII of the By-Laws of NASD Regulation, Inc.
2. The Secretary of NASD Regulation, Inc. ("the Corporation") will notify in writing the Chairman of each District Committee and the Chairman of the District Nominating Committee of the upcoming vacancies on both the District Committee and the District Nominating Committee, and the procedures to follow to fill the vacancies. A copy of these letters will be provided to the District Directors.

The District Nominating Committee will be provided by Corporation staff with information considered relevant to the nominating process, including analytical data pertaining to the District membership.
3. The Secretary of NASD Regulation and the Membership Department will prepare a Notice to Members reminding all members of their responsibility and obligation to keep current and accurate information on their Executive Representatives and branch office addresses. The Notice to Members will contain a reference to the NASDRSM Web Site (www.nasdr.com) and detail the process for changing a firm's Executive Representative. This Notice to Members will note that failure to keep this information accurate may jeopardize the member's ability to participate in District elections as well as other member votes.
4. The Secretary of the Corporation on behalf of the District Committee Chairman will send a Notice to Members announcing the forthcoming elections to the Executive Representative and each branch office of all members eligible to vote in that District. Members will be requested to submit names of candidates to the District Nominating Committee or the District Director. The Notice to Members will contain: a) the number of vacancies for each District; b) the remaining members of each District Committee; and c) a reference to the Web site and procedures for being considered an additional candidate.
5. The District Nominating Committee will endeavor to secure fair representation of all types of members present in the District on the District Committee, including small firms. One small firm member of each District Committee will serve a one-year term on the Small Firm Advisory Board.
6. The District Nominating Committee will review the background and qualifications of the proposed candidates and the District profile information provided by Corporation staff, and will determine its slate of candidates for the election.
7. The District Nominating Committee will certify to the District Committee each candidate nominated by the District Nominating Committee.
8. Within five (5) calendar days after this certification, a Notice to Members shall be sent to the Executive Representative, communicating the nominees for the vacancies on the District Committees.
9. If an officer, director, or employee of an NASD member is interested in being considered as an additional candidate, he/she must indicate his/her interest to the District Director within fourteen (14) calendar days of the date of the Notice to Members referenced in #8 above. The District Director shall make a written record of the time and date of such notification.

If an additional candidate does not come forward after the 14 days, the election of the committee is complete.
10. Additional candidate(s) may be nominated if a petition signed by the Executive Representative of at least 10 percent of the members eligible to vote in the District is filed with the District Nominating Committee within 30 calendar days from the mailing date of the Notice to Members referenced in #8 on the previous page, unless the Secretary of NASD Regulation grants additional time for good cause shown.
11. If no additional candidate(s) are nominated within the 30-calendar day period, then the candidates nominated by the District Nominating Committee shall be considered duly elected, and the District Committee shall certify the election to the Board of Directors of NASD Regulation.
12. If any additional candidate(s) are nominated, the procedures outlined in the Contested Election Procedures will apply.

Additional information pertaining to the District Election Procedures can be found in Article VIII of the By-Laws of NASD Regulation. The By-Laws can be found in the on-line NASD Manual at www.nasdr.com.