NYSE’s Dick Grasso to address NASAA conference

Panels will also focus on restitution, arbitration and what investors want from Washington

WASHINGTON (March 13, 2003) — Dick Grasso, Chairman and CEO of the New York Stock Exchange, will be the luncheon speaker at the North American Securities Administrators Association’s (NASAA’s) 18th annual Public Policy Conference on Monday April 7th.

Grasso plans to address the impact of corporate governance on investors and issuers, and the drive to restore investor trust and confidence.

“Dick Grasso played a key and statesman-like role in the global settlement of the Wall Street analyst conflict-of-interest cases,” said Christine Bruenn, NASAA president and securities administrator in the state of Maine. “We are looking forward to his perspective on that settlement, the state of the markets and the state of investor confidence during these uncertain times.”

NASAA will also be hosting panel discussions on topics such as investor restitution, arbitration and legislative priorities. See the agenda, below, for more details. The conference will be at the Washington Court Hotel, near Capitol Hill.

The Public Policy Conference follows the 19(d) conference that annually brings state and federal regulators together to discuss issues such as enforcement, broker-dealer and investment adviser regulation and investor education.

12:15 p.m. Public Policy Luncheon (Atrium Ballroom)
Dick Grasso, Chairman and CEO, New York Stock Exchange, Keynote Speaker

1:45 p.m. (Grand Ballroom)
“What do (85 million) investors want from Washington?”
Investors are the nation’s largest single constituent group. What are they expecting from the 108th Congress, the Bush administration and from their state capitals?

Moderator: James Nelson, Mississippi Office of the Secretary of State
John Hood, John Locke Foundation
Charles Leven, AARP Board of Directors
Floyd Norris, The New York Times

3:00 p.m. (Grand Ballroom)
“Investors in arbitration: Leveling the playing field.”
With the continuing fallout from the tech bubble and the bear market, arbitration cases have risen dramatically. Can investors expect a fair shake in arbitration? What can or should regulators do to improve the process?

Moderator: Ralph Lambiase, Connecticut Department of Banking
Kenneth Andrichik, NASD
Professor Michael A. Perino, Columbia University School of Law
J. Pat Sadler, Sadler & Hovdesven, P.C.

4:00 p.m. (Grand Ballroom)
“Investors and restitution: What’s fair, what’s practical?”
Some have criticized the global analyst research settlement because it doesn’t focus more on returning money to investors. Sarbanes-Oxley creates a mechanism for paying restitution, but when is restitution practical and what are its limitations?

Moderator: Christine A. Bruenn, Maine Office of Securities
Professor Donald C. Langevoort, Georgetown Law Center
Joan E. McKown, U.S. Securities & Exchange Commission
Douglas M. Ommen, Missouri Office of the Secretary of StateRegistration fees are waived for members of the press. For registration details, call Lonnie Martin at 202-737-0901 x 113.

For More Information:
Bob Webster, Director of Communications
202/737-0900

2003 Headlines, Newsroom