NASD


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Related to NASD: NASDAQ, NYSE, FINRA, NSD

NASD

abbr.
National Association of Securities Dealers
References in periodicals archive ?
A new NASD Investor Alert -- "China" Stocks -- Look Beyond the Name Before You Invest -- explains how fraudsters entice investors to purchase bogus stocks that promise exponential price growth.
If an EIA is an insurance product, then a firm would have to treat equity-indexed annuity sales by its brokers as an outside business activity, the NASD said.
These practices create point-of-sale incentives that may undermine a representative's ability to objectively recommend suitable investments to customers," NASD officials said in the statement.
NASD has made important changes to its arbitration program procedures, specifically in updating and entering arbitrator disclosure information and removing arbitrators from cases.
Gilkison, who was employed at American Express from April 1990 to January 1997, used the funds for personal expenses and paid himself fees for office management, an NASD spokesman said.
Pursuant to the agreement, the Federal Reserve has worked closely with the NASD on several occasions to address supervisory issues arising from the examination of a state member bank and an affiliated broker--dealer that conducts retail sales activities on the bank's premises.
NASD imposed a $425,000 fine against Scudder, which distributes the investment products of Scudder Investments; a $175,000 fine against Putnam, which distributes its own investment products; and a $100,000 fine against AllianceBernstein, which distributes the investment products of AllianceBernstein L.
Given the examination findings, the large number of enforcement cases over the past couple of years and the complexity of these products, we feel we can best protect investors by establishing stronger, more specific rules that apply specifically to variable annuities," NASD Chairman Robert Glauber said in a statement.
A self-regulatory group, the NASD is the parent organization of the Nasdaq Stock Market and NASD Regulation, which oversees the activities of more than 5,500 securities member firms, 535,000 brokers and Nasdaq.
The NASD has more than adequate existing suitability regulations that apply to variable-annuity sales, said Carl Wilkerson, vice president and chief counsel for the ACLI.
The commission said NASD officials knew of such actions, but did nothing to stop them.