Final answer:
The SEC, FINRA, and NASD are regulatory bodies that oversee the sale of securities and the brokers, dealers, and bankers who sell them. The SEC is a federal agency established to set rules and prevent stock market crashes. FINRA and NASD are self-regulatory organizations that enforce compliance with industry rules and regulations.
Step-by-step explanation:
The Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and the National Association of Securities Dealers (NASD) are regulatory bodies that oversee the sale of securities and the brokers, dealers, and bankers who sell them.
The SEC is a federal agency established through the Federal Securities Act to set rules and prevent stock market crashes. FINRA and NASD are self-regulatory organizations that enforce compliance with industry rules and regulations.