(May 8, 2002) – “We commend the National Association of Securities Dealers for addressing the vital issue of analyst conflict of interest beginning last year and then working with the New York Stock Exchange, the Securities and Exchange Commission, Congress and the states to ensure adoption of today`s rule changes,” said Marc Beauchamp, executive director of the North American Securities Administrators Association. “These rule changes will strengthen investor confidence and investor protection.”

“As we said in our comment letter (April 18, 2002), if the joint investigation that we`ve undertaken with the SEC and other regulators and the investigation by the New York Attorney General show the need for additional rules, we will address those issues as they arise.”





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