National Association of Securities Dealers (NASD)

The National Association of Securities Dealers (NASD) was a self-regulatory organization responsible for overseeing brokerage firms and their registered representatives in the U.S. financial markets until it merged with the NYSE Regulation to form FINRA in 2007. Its primary role was to maintain fair, honest, and efficient securities markets by creating and enforcing rules, examining firms for compliance, and providing investor protection. NASD aimed to ensure integrity and public confidence in the securities industry through regulation, oversight, and enforcement of industry standards.