NASD Dissidents Launch Contested Election for Board of Governors

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The NASD Dissidents' Grassroots Movement (NDGM)announced an historic challenge of the recent Board of Governors nominees.

(PRWEB)On Thursday, November 13, 2003, NDGM formally began soliciting petitions to nominate a slate of contested candidates for the NASD Board of Governors from some 5,000 plus NASD member firms. A copy of the petition may be viewed at

Brief History of NDGM

Founded in 2002 by Bill Singer, Esq., a partner with the NYC law firm of Gusrae, Kaplan & Bruno, PLLC and the publisher of, NDGM has become a national coalition of NASD member firms, registered persons, and investor advocates. In 2003, Bill was joined by Tommy Shaw of Seidel & Shaw and Dan Roberts of Roberts & Ryan, and the three colleagues spent the past year expanding the movement and developing an agenda to reform Wall Street. Following an unsuccessful year of attempting to engage the NASD in meaningful dialog on their proposals, NDGM opted to nominate a slate of candidates to contest the NASD's own nominees. To view a copy of the topics under discussion with NASD, visit:

Despite the colorful name of our coalition, it best underscores what we're about. NDGM is a grassroots movement. It is not a dues-paying incorporated trade group. We are not about lunches on Capitol Hill or running yet another round of costly seminars. This is a coalition of action. We seek reform on Wall Street that prevents investor fraud and promulgates effective regulations. We seek ways to put America back to work.    We seek ways to once again raise capital for local businesses and jump-start our economic recovery. But most importantly, we believe that it's time for investor advocates and the small and mid-sized brokerage firms of the United States to unite and regain what has been stripped from them by years of ineffective regulation and wasteful bureaucracy.

The Nominees

NDGM has nominated Dan Roberts for the Industry Governor seat. For the three Public Governor seats, NDGM has nominated Raymond Gambel and Les Greenberg, Esq.; we have also decided to cross-endorse one of the NASD's nominees: Joel Seligman, Esq.

Details of NDGM's nominees may be found at:

NDGM's Agenda

NDGM has published the various iterations of its agenda on its website for over a year. The platform upon which our candidates run is available for your reference at:

NDGM Advisory Board

NDGM has assembled a national advisory board of industry and public sector veterans. The press and public are invited to make direct inquiries to each adviser. Although united by a common goal to reform the securities industry, our colleagues all have their own opinions and perspectives. We encourage such diversity and welcome the clash of ideas within our movement. We believe that the miracle of our country is the ability for lone voices to come together and move mountains.


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Bill Singer