_(48126619532).jpg){kind=link}
The story
The NASD was founded on September 3, 1936, as Investment Bankers Conference, Inc. and, on August 7, 1939, was registered under the name National Association of Securities Dealers, Inc. as a national securities association with the SEC under authority granted by the 1938 Maloney Act amendments to the Securities Exchange Act of 1934, which allowed it to supervise the conduct of its members subject to the oversight of the SEC. In 1971, NASD launched a new computerized stock trading system called the National Association of Securities Dealers Automated Quotations (NASDAQ) stock market. The NASDAQ and American Stock Exchange (AMEX) stock exchanges merged in 1998. Two years later, the NASDAQ underwent a major recapitalization and became an independent entity from NASD. In July 2007, the SEC approved the formation of a new SRO to be a successor to NASD. The NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange were then consolidated into the Financial Industry Regulatory Authority (FINRA).
From Wikipedia’s article on Financial Industry Regulatory Authority, shared under CC BY-SA 4.0.5