NASD Statement on Department of Justice Action
Washington, D.C.- The NASD learned late today that the Department of Justice filed action in the Southern District of New York seeking to enforce a Civil Investigative Demand Document request.
Both informally and formally, the NASD has cooperated with the Department of Justice by producing documents and meeting with the Department to answer any of its concerns or questions. The NASD has produced thousands of pages of documents. NASD will continue working with the Department of Justice in satisfying its request for documents.
The NASD is the largest self-regulatory organization in the U.S., with regulatory authority encompassing more than 5,400 member firms and 503,000 registered individuals. The NASD also owns, operates, and regulates the Nasdaq Stock MarketSM, the fastest growing equities market in the U.S. with about 5,000 companies. Nasdaq is a screen-based market, linking market makers nationwide through a sophisticated telecommunications and computer network.