The National Association of Securities Dealers has appointed an Economic Advisory Board to advise NASD staff on its rule modernization initiative.

The EAB will provide advice and guidance on NASD rules that may need to be revised and on ways that the NASD can maximize the benefits of its regulation while minimizing its costs.

The EAB will subject NASD rules to rigorous economic analysis. Organized by James Nuzzo, managing partner at The Colchester Group, the EAB is composed of economists and other experts on securities regulation and its impact on the industry and investors.

Deregulation is suddenly a hot topic, as the BC Securities Commission has unveiled a deregulation project in that province.

NASD chairman and CEO Robert Glauber said, “This is a truly distinguished group, which will bring to bear vast expertise in economics, finance, and consumer protection. By assisting us in this rigorous review, the Advisory Board will benefit the NASD, investors and our members.”