National Association of Securities Dealers 3010 & 3110 (NASD 3010 & 3110)

The National Association of Securities Dealers (NASD) requires that member firms establish and maintain a system to "supervise" the activities of each registered representative, including transactions and correspondence with the public. In addition, NASD 3110 requires that member firms implement a retention program for all correspondence involving registered representatives. Effects primarily broker-dealers, registered representatives, and those individuals that trade securities or act as brokers for traders are subject to the regulations. [Exchange 2007]