National the Association OF Securities Dealers (NASD) is mainly responsible as an authorizing agency in the USA for the supervision of persons, who are involved in the security industry. The Securities and Exchange Commission (short SECONDS) delegated this responsibility to the NASD. The NASD is an adjusting organization (Self Regulatory Organization, briefly SRO) and is thereby no direct authority of the government.

All enterprises, which act MSRB with securities, which are not adjusted by another SRO, like the Municipal Securities Rulemaking board, briefly, must member enterprises of the NASD be. Also persons, the license possess publicly with securities to act, are well-known as registered commercial agents.

To keep upright the adjustment of the security industry intended for all persons, who work in the security industry, ethical practices, which lie in the best interest of the consumers. In order to intersperse this, the NASD has the right against the member enterprises and registered commercial agent fines to impose, which broke the rules. For this purpose the NASD is very useful for the industry, since she develops confidence in the public and represents her interests. However, the exclusive financing of the NASD is carried out by the fines and the fees of the member enterprises. This circumstance is criticized regarding the fact that thereby an incentive for the NASD is created in relation to an enterprise because of all possible fines to impose, simply for the costs of the investigation already resulted, even if no serious injuries could be uncovered.

Related links

• http://www.nasd.com/

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