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Small Firms Uprising Averted at NASD

Traders Magazine, October 2002

Staff Reports

Small broker dealer attempts to wrest control of the NASD have been put on hold. That's because the NASD has agreed to meet with a group of NASD members who were going to run a slate of candidates in this year's board elections. The meeting is taking place because the NASD has underestimated how strong the dissident group is, according to Bill Singer, an attorney who is highly critical of the National Association of Securities Dealers. However, Grant Callery, general counsel for the NASD, said there was no pressure on the NASD to hold the meeting.

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