The Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commission (SEC) on proposed amendments relating to the release of information through the National Association of Securities Dealers (NASD) BrokerCheck, NASD’s public disclosure system, Release No. 34-54053; File No. SR-NASD-2003-168. SIA believes that the disclosure of archived “Historic Complaints” could result in significant inequities to registered persons, create a chilling effect on settlements and mislead investors seeking meaningful information from the BrokerCheck system.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.