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SECURITIES

Times Staff and Wire Reports

NASD Delays Naming New Board: The National Assn. of Securities Dealers delayed naming a slate of directors for a new subsidiary that is to enforce rules governing brokerage firms and Nasdaq dealers. The board for the new unit, NASD Regulation, was to have been named Monday. A senior official said a nominating committee reported that it hadn’t finished screening candidates. The new unit is being established as a result of a report commissioned by the NASD which called for greatly increased rule enforcement. The report also called for at least 50% of directors on NASD boards to be independent members who don’t work for brokerage firms.


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