NASD-NYSE alliance moves forward

NASD’s membership recently voted in favor for bylaw changes to enable an NASD-New York Stock Exchange joint regulator. The approval follows the two organizations’ announcement that they intend to create jointly a single entity to oversee all brokers. The intent is to increase the efficiency and consistency of securities industry oversight and reduce regulatory costs. The new self-regulatory organization, which is unnamed at this point, is expected to begin operations in the spring. To track the consolidation’s process, visit http://nasd.com/RegulatoryConsolidation/index.htm

Related Topics: Regulatory Moves