The NASD Regulation, Inc. takes disciplinary actions against firms and individuals for violations of NASD rules, federal securities laws, rules, and regulations and the rules of the Municipal Securities Rulemaking Board. Every broker/dealer in the United States that conducts a securities business with the public is required by law to be a member of the NASD.

The NASD Regulation, Inc. also provides a Public Disclosure Program (PDP) for investors to learn about the professional background, business practices, and conduct of NASD member firms or their brokers. You can obtain information about the industry professional's current employment and background including:
 

• Final disciplinary actions, judgments and arbitration decisions involving public customers disputes
• Criminal convictions, informations and indictments
• Customer complaints
• Employment terminations after allegations relating to violations of investment-related statutes or rules, fraud, theft
• Bankruptcies filed within the last 10 years and outstanding judgments and liens
• Pending disciplinary actions, arbitrations and civil proceedings involving securities or commodities transactions
• Pending written complaints alleging sales practice violations and compensatory damages of $5,000 or more
• Open examinations that are deemed as formal investigations involving regulatory or criminal matters

We strongly recommended that before dealing with any broker or advisor that you do not know, visit the NASD website and conduct the appropriate search under the Public Disclosure Program.

If you need information about a Canadian broker please contact the following provincial Securities Commissions directly:

Alberta Securities Commission
British Columbia Securities Commission
Newfoundland and Labrador, Securities Division, Department of Government Services and Lands
Nova Scotia Securities Commission
Ontario Securities Commission
Prince Edward Island, Department of Community Affairs & Attorney General
Quebec Securities Commission