NASD, the U.S. brokerage industry regulator, has named a new government affairs team after promoting two officials.
The brokerage industry regulator has named Casey Carter vice president for government relations and Scott Borchert state liaison. Carter replaces Marcia Asquith, who was promoted to vice president and deputy corporate secretary. Borchert replaces Chip Jones, who was promoted to vice president for member relations.
Carter is a founder of consulting firm Astor Advisors. She previously served as director of the Securities and Exchange Commission's Office of Legislative Affairs under chairmen Arthur Levitt and Harvey Pitt. She also was a liaison with the U.S. Congress in the wake of the September 11 terrorist attacks.
Borchert will work with state financial services regulators and will coordinate with state regulatory umbrella organizations, such as the North American Securities Administrators Association and the National Association of Insurance Commissioners. He joins NASD after a 25-year career with the Minnesota Department of Commerce, where he served as director of both the enforcement and registration divisions.
The NASD is currently awaiting regulatory approval for its proposed plan to streamline oversight in the securities industry by merging with the New York Stock Exchange's regulatory arm. The combination is expected to be effective in the second quarter.