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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Greg Jung who wrote (14345)	3/28/1998 10:00:00 AM
From: Moonray	Respond to of 22053

NASD launches Internet site on brokers NEW YORK (Reuters) - The National Association of Securities Dealers on Thursday launched a $50 million Internet site that allows investors to find out if a broker has tangled with the NASD's regulatory arm. ''The more information you have about the person you're entrusting your life's savings to, the better,'' said Nancy Condon, spokeswoman for NASD Regulation (NASDR). Users can search the site either by firm or by a broker's name. Information currently available at the site, approved by the U.S. Securities and Exchange Commission, includes criminal convictions, bankruptcies, suspensions, civil actions and customer complaints. The data comes from a central registration depository, a databank. By the third quarter, the NASDR said, the site will also provide data on current investigations that involve criminal or regulatory actions, broker settlements worth over $10,000, pending arbitration, and pending written customer complaints worth over $5,000. The complaints would stay on the system for 24 months, it said. Some brokers have complained that they could be tainted by unfair complaints, but the NASDR said the site information would include unedited comments from both sides, allowing a brokers to tell his side of the story. The site can be accessed directly at pdpi.nasdr.com or through nasdr.com. The NASD, parent of the Nasdaq stock market, currently runs a toll-free telephone number investors can call to check a broker's history. o~~~ O