NASD Cracks Down on Gifts

Planners who work for one of the 5,000 companies that fall under the regulatory arm of NASD, may soon be dealing with new guidelines on gift-giving and entertainment. Concerned that excessive entertaining and gift-giving compromise the ability of brokers to work in the best interests of their clients, NASD and the New York Stock Exchange have recently proposed new rules that would force companies to come up with specific policies and procedures — a change from the vaguely worded entertainment