NASD Membership Process Going Electronic

The NASD is looking to make the entire membership application process electronic, said Robert Errico, executive v.p. of member regulation. This is expected to speed up the process. Presently, the membership application review process takes 180 days. All but nine of 212 applications were processed within that timeframe, Errico said. By making the process entirely electronic, the NASD is looking to reduce the process to 80 days, he said. He did not provide a timeframe for when the project would go into effect.