Storm Copestand
Traders Magazine Online News

Conquering Fear in Trading

In this exclusive to Traders Magazine, therapist Storm Copestand examines how traders can manage expectations and conquer their fear during the entire execution process.

Traders Poll

Amid changes in builder, do you think the CAT project will be completed by 2020?

Free Site Registration

March 1, 2000

Washington Watch - Pros Swarm to NASD's Compliance Program

By William Hoffman

The NASD Institute for Professional Development has received hundreds of inquiries from securities professionals on its 120-hour regulatory and compliance certificate program at the Wharton School of Business, the institute's new executive director said.

One prospect who signed up is Peter D. Grassel.

"You always want to have communications open between yourself and regulators," said Grassel, chief financial officer and compliance head at Sandgrain Securities in Garden City, N.Y. "You want it to be cooperative, rather than adversarial, which is how too much business in this industry is done."

"Every indication is that we're going to have a large and diverse group," according to Gary L. Tidwell, who took over management of the National Association of Securities Dealers' educational program on Jan. 3.

Three-Part Course

The first part of the three-part course runs April 30 through May 5 at the Wharton School of the University of Pennsylvania. Courses, led by Wharton faculty, academics from New York's Fordham University and securities and legal experts, will cover industry and market regulation by states and the federal government, financial products and services, ethics, and other topics.

Later course work will include sessions at Fordham, breakout sessions, and group projects designed to facilitate small group learning, Tidwell said. Graduates will be recognized as Certified Regulatory and Compliance Professionals.'

The program aims, in part, to bring regulators from government and self-regulatory organizations together with industry professionals. That allows each side to understand how the other works, the director said.

That's a big reason Grassel signed up.

With six licenses for basic securities, municipal securities, financial operations principal, and others, Grassel described himself as "licensed out. I've got all the licenses I need." He added, "Of course the licenses are only the beginning of the education process."

The course's starting location at the famed Wharton School helped clinch the deal, Grassel said. "Any chance you can get to be educated by these types of persons, you've got to jump all over it," he said. "I really couldn't sign up fast enough."

Array of Students

Tidwell said students will include securities professionals, regulators, and anyone interested in the industry operations, regulation and ethics.

Issues of interest to those working with the NASD, which established the institute 12 years ago, will not eclipse broader topics that should attract participants in the New York Stock Exchange, or other exchanges, Tidwell said.

The institute plans a mass mailing and promotional push on the web, the director said. Some course material will eventually be available over the Internet, he added. However, instructors and institute managers prefer to encourage face-to-face dialogue between regulators and industry professionals in an academic setting.

Grassel said he looks forward to the type of in-depth instruction that typical 30- and 60-minute conference sessions simply can't cover. "I really have high hopes for this program," he said.