NASD Rule 3050: Transactions by Associated Persons

Those associated with broker-dealers are put in a position where they can easily commit financial crimes.  We watch it played out in movies and we see it happening in real life.  One preventative measure firms should take is to establish sound supervisory practices that require oversight of all associated persons’ outside brokerage accounts and transactions.  This regulatory obligation is established in NASD Rule 3050. Read More…