The NASD pats itself on its back every year with a year in review, and this year is no different. New trading systems, efforts to "demystify" the bond markets, and prohibitions on cash sales contests all make the release. (Can anyone explain why it has taken so long for them to do anything about sales contests? Can there be a clearer conflict of interest?).
The good news is that arbitration proceedings are down, with only 6,000 claims filed last year (the math makes that about one claim per firm last year.
The linked press release details the major fines and regulatory concerns.
