Business and Personal Finance Dictionary

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• NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD)
  
  NASD, a nonprofit, self-regulating association supervised by the Securities and Exchange Commission (SEC), sets standards and establishes rules for the way that its members, including brokerage firms active in the over-the-counter (OTC) market and investment banks, operate. NASD also has the authority to discipline members who violate those standards. Among NASD's other responsibilities are reviewing and approving sales and marketing literature that its members use to promote their products. The goal is to protect investors from misleading information on the risks and rewards of investing.
  
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