HISTORY
In the fall of 1980, Bill Devin, Aime Girard, Frank Graham and Tom Lewis (the Founders) met for dinner. During the evening many issues concerning the investment industry were discussed, including the NSTA's focus on the OTC markets. The idea for NOIP was formed when the Founders realized the need to establish an organization with emphasis on the listed markets and market structures. Between 1980-1983, Frank Graham and Tom Lewis planned many ad hoc committee meeting where 15-25 traders met periodically to discuss a broad range of issues pertinent to the industry, and the Securities and Exchange Commission's new proposed regulations affecting both the Buy and Sell sides of the Street. In 1983, the Founders decided to take the necessary steps to formalize the organization. Planning included the charter, choosing a name, membership criteria and organization structure. This became the National Organization of Investment Professionals (NOIP). From the beginning regulators expressed an interest in attending the NOIP meetings because of the diversity of the membership and also the input, ideas and opinions they were to encounter.
- The charter was to educate its members with discussions on key issues with regulators so as to establish a good, cohesive relationship with them, enabling our opinions to be heard.
- The name was of importance to the Founders because they wanted to encompass every professional involved in the equity securities market.
- Membership was open to specialists, floor brokers, regional exchange members, upstairs traders, buy side traders, OTC traders, third/fourth markets and futures and options traders. A diversity was sought with proportionate balance.
- Structure included keeping the organization small, four board meetings a year, and two general meetings per year to be held in New York and Washington, D.C.
- The Founders' vision for NOIP is intact today, ensuring meaningful dialogue among the membership and with our regulators and representatives on Capitol Hill.