Mr. Lombard has been an Adjunct Professor at Georgetown University Law Center since 1996. Mr. Lombard earned his J.D. from Georgetown University Law Center, cum laude, in 1990, his M.Sc. On Thursday, July 29, Chairman Levitt will testify on behalf of the Commission before the Senate Subcommittee on Securities concerning loan loss allowances. The examination staffs of the Commission, the New York Stock Exchange, and NASD Regulation, Inc. today issued a joint statement on broker-dealer risk management practices. As firms grow and change, they must ensure that their risk management programs keep pace.
Experience shows the benefits of sound internal controls.
I am pleased with the collaborative effort of the NASD, SEC and NYSE task force and am confident that the recommendations outlined in the joint statement will be helpful to senior management in the securities industry. At times, changes in Commission priorities require alterations in the scheduling of meeting items. These are strategies and legal forms that have been developed by the most experienced and competent corporate and securities attorneys in the country.