Officials Say the Darnedest Things
If enforcement is needed, NASD has shown its
willingness to provide it—with teeth.
NASD Chairman and
October 16, 2003
I am convinced there is one mighty bulwark
separating the securities industry from the risk we might one day follow in the
footsteps of the accounting industry. And that is our willingness and ability --
when we ARE faced with practices that would harm investors and the reputation of
our markets -- to take decisive action together to correct the
wrongdoing, instead of coddling it.
November 7, 2002
Tough and even-handed enforcement is a fundamental
part of NASD’s mission. It not only ensures compliance and punishes wrongdoing,
but also benefits the vast majority of our members who obey the rules and place
investors first. For investors feel more confident using the markets when they
know a tough cop is patrolling the beat.
March 5, 2002
As we work together to ensure adherence to high standards of
commercial honor, we will rebuild and increase investor confidence, and ensure
that the U.S. capital markets embody the principles of integrity for which they
have always been known.
April 9, 2003
To help me sleep through the night, we have
come up with a new approach to regulatory problems that I can sum up in four
words: "find fast, hit hard."
May 1, 2003
Transparency is the foundation of ethical thought and action and
it must be the cornerstone of self-regulation.
February 4, 2003
That's a good thing when they [refuse to answer our
questions]. It gives us the ability to get the wrongdoers out quickly to
prevent them from doing more harm.
Executive Vice-President for
February 18, 2003
We're quite confident that the worst people in the industry
are disciplined and dealt with in an aggressive way.
June 8, 2000
Our default [in the Public Disclosure Program] is
always towards getting investors more information, . . .
March 6, 2003
The securities industry and its regulators have established
exceptionally stringent licensing and qualification requirements.
--Special NASD Notice to Members