The NASD has come down on 29 broker/dealers for more than 8,000 instances when those firms failed to disclose reportable information about brokers to customers. The firms have neither admitted to nor denied allegations, but consented to the entry of the findings. Reportable information includes customer complaints, regulatory actions, criminal charges and convictions.
Most such events must be reported for inclusion on the Central Registration Depository (CRD) within 30 days, although more serious events must be reported within 10 days. The CRD is available to the public through the NASDs BrokerCheck, and more than 2.8 million investors have looked into brokers histories through the service.