Fredric M. Roberts, head of the F....

Fredric M. Roberts, head of the F. M. Roberts & Co. investment banking firm in Los Angeles, was elected to a three-year term as a governor of the National Assn. of Securities Dealers. The NASD board of 31 governors oversees the national electronic over-the-counter stock market, where the vast majority of stocks are traded. The NASD is involved in all aspects of regulation of the OTC market, including broker disciplinary issues.