NYSE, NASD Agree To Create Single Regulator

Law360, New York (November 28, 2006, 12:00 AM EST) -- The National Association of Securities Dealers and NYSE Group Inc. are one step closer to creating a single regulator to police U.S. markets after executives from both organizations signed a letter committing to consolidation.

The two self-regulatory organizations have agreed to streamline private-sector regulation by combining their efforts and creating one body to govern broker-dealers.

The letter, which is non-binding, has already been approved by both the NASD board of governors and the boards of directors of NYSE Regulation and NYSE Group, although certain modifications must...
To view the full article, register now.