Mary L. Schapiro, chief executive officer and president of the National Association of Securities Dealers, warned broker-dealers Friday not to be complacent about suitability for the customer when selling securities on-line.

Ms. Schapiro issued her caution at the association's annual fall securities conference here. The NASD has not decided whether its suitability rule covers on-line trades, but Ms. Schapiro said it could apply in certain situations.

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