OK sing it with us, people. It’s the...

National

Association

Of (you can, whisper that part)

Securities

Dealers.

NASD is sort of the 12-games-a-year NFL season. It USED to be the thing, the way things were done, the governing body. And it was an SRO, or self-regulating organization. But eventually it just didn’t change with the massively increased demand, and it ended up being replaced as an organization by the much catchier named FINRA, originally sponsored as a bill by Flipper.

So the new song goes...

FINRA, FINRA...we love you...

You stand for:

Financial
Industry
Regulatory
Authority

Yeah. That’s all we got.

It was a pleasure vocalizing with you.

Find other enlightening terms in Shmoop Finance Genius Bar(f)