Short Takes: Regulators Issue Pads To Track Brokers' Calls

State securities regulators are using a new weapon in their war on rogue brokers. They are distributing notepads to investors and urging them to record details of their conversations with brokers.

The North American Securities Administrators Association Inc. hopes the pad will prompt investors to log information such as the date of the broker's call, the nature of the investment, and how it was described to them. Investors are also encouraged to ask for the broker's Central Registration Depository number, which corresponds to his or her record in a data base operated by securities regulators.

"People need to take good notes and keep good records of their financial transactions, and this helps them do that," said a spokesman for the regulators' organization. There have already been several requests for the notepads from investors.

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