名字叫什么？询问NASD

The NYSE and its former boss Dick Grasso were heavily criticized over salary and benefits to Grasso of well over $100 million. Many thought it unconscionable for the head of a self-regulatory body to earn that kind of money. For that reason, and so it could play ball in the international arena, the NYSE simply bribed all 5000+ members of the NASD $35,000 each to vote to take over its regulatory functions.

The National Association of Securities Dealers, Inc. is an association. Its members are securities dealers. Yet, it does not like its name and wants to change it. After all, it sounds strange for an association of securities dealers to be the primary regulator of securities dealers – too much like a fox in charge of a hen house.

纽约证券交易所的接管似乎是更改名称的完美借口。因此，纳入纳入人物的一些人想到的名字听起来更像是证券交易商协会。bob200体育在不太谨慎的思考之后，NASD提出了“证券行业监管机构”或Sira。bob200体育

还不错，除了韦伯斯特（Webster）将“权威”定义为“政府机构或公司，以管理产生收入的公共企业，即“运输当局”。实际上，NASD是其成员拥有的非营利性公司。基本上，它与乡村俱乐部具有相同的结构。尽管如此，Sira被宣布为NASD的新名称。

This name was not so carefully conceived because the NASD soon drew criticism for “SIRA.” Even the slightest modicum of research would have revealed “sira” or “sirah” as a well recognized Islamic term for the study of the life of Muhammad. (What if, for example, the acronym “GOSPEL” had been selected?)

A test balloon was sent up for “The Securities Industry and Financial Markets Association,” which semed ok — until abbreviated “Sifma” which, said the NYSE Chief Executive, was reminiscent of “certain unpleasant diseases.” Nor did it contain the misnomer “authority,” which was decidedly a keeper. Eventually, “Financial Industry Regulatory Authority” or “FINRA” was selected. It was a healthy name that did not offend any Constitutionally protected class and sufficiently obscured that the group is actually an association of securities dealers.

Well — Oops! What were they thinking, says The National Association of Personal Financial Advisors (NAPFA) claiming the name will cause confusion. Securities dealers are dealers in securities and financial advisors are wholly different animals, not regulated by the NASD but by state regulators and the SEC.

Actually, these financial advisors have a point. For example, you have a problem with a “financial advisor” who would you call? If you called the “Financial Industry Regulatory Authority,” they would tell you “wrong number.” NAPFA said NASD made a “grave error in judgment,” since it would be insinuating it has “authority” over everyone in the financial industry, which is simply not true.

回到绘图板？不见得！如果NASD具有一种质量，那就是傲慢。犯罪世界上有14亿伊斯兰人是一回事，但是承认另一个错误是不会发生的。至于Finra是什么或做什么的困惑……好吧，这不是这个名字更改的全部原因吗？

During these events CEO of the NASD, Mary Schapiro remarked: “What’s in a name?” Perhaps, Mary, a name might give some indication of what you are, so why not call your organization “The National Association of Securities Dealers?”

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