Thousands of investors have told us they are confused by the investment jargon that is used by financial advisors. We also know some terms, that investors don't understand, are used by advisors as sales ploys. They establish themselves as experts when they define a term you may not understand.
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Definition of 'National Association of Securities Dealers (NASD)'
The NASD was responsible for the operation and regulation of the Nasdaq stock market and over-the-counter markets. It also administrated exams for investment professionals. In 2007 the NASD merged with the New York Stock Exchange's regulation committee to form the Financial Industry Regulatory authority, or FINRA.