National Association of Securities Dealers

The National Association of Securities Dealers (NASD), now part of the Financial Industry Regulatory Authority (FINRA), was a self-regulatory organization responsible for overseeing and regulating brokerage firms and stockbrokers in the U.S. Its role was to ensure market fairness, enforce rules to protect investors, and maintain the integrity of securities trading. NASD conducted inspections, enforced regulations, and handled disciplinary actions. In 2007, it merged into FINRA, which continues these duties, aiming to promote transparency, investor confidence, and the proper functioning of securities markets.