NASD Enforcement Chief Barry Goldsmith Leaving to Return to Private Practice

After a nearly 10 year reign at the head the National Association of Securities Dealers enforcement team, Barry Goldsmith resigned his public executive vice president post to retreat into private practice. During his tenure, Goldsmith, 56, was responsible for overseeing

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After a nearly 10-year reign at the head the National Association of Securities Dealers enforcement team, Barry Goldsmith resigned his public executive vice president post to retreat into private practice.

During his tenure, Goldsmith, 56, was responsible for overseeing the investigation and prosecution of disciplinary actions at the national and district levels.

Goldsmith will become a partner in the law firm Gibson, Dunn & Crutcher LLP’s Washington, D.C. office. He will be succeeded by James Shorris, senior vice president and deputy head of enforcement.

“Investor confidence has been badly shaken by a series of scandals in the recent past, and a major key to rebuilding and maintaining investor confidence has been vigorous enforcement of our securities laws and regulations,” said NASD Chairman and CEO Robert R. Glauber. “Barry Goldsmith and his department have demonstrated to investors over and over again that there is a tough and tireless cop on the securities beat. We at NASD thank him for his enormous contribution, and we wish him every success in his new endeavours.”

Goldsmith spearheaded NASD’s investigations in a number of precedent- setting areas, including its probes of IPO allocation practices by major securities dealers, research analyst conflicts of interest, arbitration abuses, boiler room fraud, mutual fund share class sales practice abuses, hedge fund marketing practices and sales of variable annuities and variable life products by retail brokerage firms.

Before joining NASD two decades ago, Goldsmith served as chief litigation counsel for the Securities and Exchange Commission (SEC), where he was responsible for the conduct, supervision, and evaluation of all enforcement litigation conducted by the agency. Among the matters for which he had significant responsibilities were the SEC’s landmark federal court cases against Drexel Burnham Lambert and Michael Milken, Ivan Boesky and Victor Posner.

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