Hi is correct--NASD is not a government agency (not that anyone ever said it was). Here is some background on NASD:
The National Association of Securities Dealers is the largest securities-industry self-regulatory organization in the United
States. Through its subsidiaries, NASD Regulation, Inc., and The Nasdaq Stock Market, Inc., the NASD develops rules
and regulations, conducts regulatory reviews of members' business activities, disciplines violators, and designs,
operates, and regulates securities markets and services all for the ultimate benefit and protection of the investor. The
NASD has a governing Board with a majority of outside governors, a first in the securities industry. Working with the
governing Boards of the NASD and its subsidiaries are various corporate committees, advisory boards, and standing
committees comprised of volunteers from the securities industry and the public sector. |
