SECURITIES

NASD Investigates Sylvan Stock Surge: The National Assn. of Securities Dealers, parent of the Nasdaq Stock Market, confirmed that it has launched an investigation into trading of Sylvan Learning System Inc.’s stock, which jumped from $32.125 to $35.50 in less than 20 minutes on Tuesday before the announcement that the Columbia, Md.-based company was forming a partnership with the NASD to train and test brokers registered with the securities organization. The venture could add $5 million to $6 million to the company’s annual revenue, Chief Executive Chris Hoehn-Saric said. Now NASD must investigate itself and the other parties to find out if news of the agreement was leaked. Nasdaq, the exchange on which Sylvan shares trade, said the situation does not present a conflict of interest.