FINRA needs to fill 2 vacancies on the National Adjudicatory Council ("NAC"), to be filled by one Large Firm NAC Member and one Small Firm NAC Member.   FINRA’s Nominating and Governance Committee nominated the following individuals:

• Jill W. Ostergaard for the Large Firm NAC seat.  Ms. Ostergaard is an MD and CCO, Morgan Stanley & Co. Incorporated.
• David M. Sobel for the Small Firm NAC seat.  Mr. Sobel is an EVP, General Counsel and CCO, Abel/Noser Corp. 

NAC Function.   Appointed by the FINRA Board of Governors, NAC reviews all disciplinary decisions issued by FINRA hearing panels and presides over disciplinary matters that have been appealed to or called for review by the NAC.  NAC also reviews statutory disqualification matters and considers appeals of membership proceedings and exemption requests.

NAC Composition.   NAC has 14 members - seven industry members and seven non-industry
members.  The 7 industry members include 2 Small Firm, 1 Mid-Size Firm, 2 Large Firm and 2 At-Large Industry Members.  Of the seven Non-Industry NAC Members, at least 3 are Public Members.

Eligible individuals who were not nominated may petition to have their name included on a ballot for a contested election by following the procedure below.

Member Firm Executive Reps:  They should have received an electronic Election Notice 

For further details, go to:   [FINRA Election Notice, 8/5/11]  and/or   [NAC Election Candidate Profile Form].