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National Association of Securities Dealers (NASD)

The National Association of Securities Dealers (NASD) is a private, nonprofit, self-regulatory organization to which nearly all brokerage firms doing business in the United States are required to belong. Including more than 5,200 firms with almost half a million employees, NASD's board largely comes from member securities firms. Its purpose is to enforce practices that protect investor rights and help maintain efficient and fair markets. As such, NASD is the largest self-regulatory organization in the country. NASD regulatory activities include supervising and disciplining broker-dealers, analysis and oversight of over-the-counter market activities, and providing arbitration and mediation for most of the disputes in the industry. The NASD is empowered to take disciplinary actions such as imposing fines and even revoking licenses against firms and registered representatives ...

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