The National Association of Securities Dealers plans to change the process it uses to choose panelists for its securities arbitration process.

The NASD wants to implement a "list selection rule" this year that would give parties going to arbitration more say over who will decide their cases, said Kenneth L. Andrichik, an official with NASD Regulation. Mr. Andrichik, a director in the office of dispute resolution, was addressing a group of compliance officials from bank brokerages attending a Bank Securities Association conference here last week.

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