{"id":193,"date":"2007-07-19T20:49:54","date_gmt":"2007-07-19T20:49:54","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/whats_in_a_name_ask_the_nasd_1"},"modified":"2021-09-20T15:41:14","modified_gmt":"2021-09-20T20:41:14","slug":"whats-in-a-name-ask-the-nasd-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/whats-in-a-name-ask-the-nasd-1\/","title":{"rendered":"What’s in a Name? Ask the NASD"},"content":{"rendered":"

\t\t\t\tThe NYSE and its former boss Dick Grasso were heavily criticized over salary and benefits to Grasso of well over $100 million. Many thought it unconscionable for the head of a self-regulatory body to earn that kind of money. For that reason, and so it could play ball in the international arena, the NYSE simply bribed all 5000+ members of the NASD $35,000 each to vote to take over its regulatory functions. <\/p>\n

The National Association of Securities Dealers, Inc. is an association. Its members are securities dealers. Yet, it does not like its name and wants to change it. After all, it sounds strange for an association of securities dealers to be the primary regulator of securities dealers – too much like a fox in charge of a hen house. <\/p>\n

The NYSE takeover seemed a perfect excuse to change the name. So a few folks at the NASD thought about names that would sound more like it was something other than an association of securities dealers. After not so careful thought, the NASD came up with “The Securities Industry Regulatory Authority”, or SIRA. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The NYSE and its former boss Dick Grasso were heavily criticized over salary and benefits to Grasso of well over $100 million. Many thought it unconscionable for the head of a self-regulatory body to earn that kind of money. For that reason, and so it could play ball in the international arena, the NYSE simply […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3788],"tags":[],"class_list":["post-193","post","type-post","status-publish","format-standard","hentry","category-nasd-enforcement"],"yoast_head":"\nWhat's in a Name? Ask the NASD — Investor Lawyers Blog — July 19, 2007<\/title>\n<meta name=\"description\" content=\"The NYSE and its former boss Dick Grasso were heavily criticized over salary and benefits to Grasso of well over $100 million. Many thought it — July 19, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/whats-in-a-name-ask-the-nasd-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What's in a Name? Ask the NASD — Investor Lawyers Blog — July 19, 2007\" \/>\n<meta name=\"twitter:description\" content=\"The NYSE and its former boss Dick Grasso were heavily criticized over salary and benefits to Grasso of well over $100 million. 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