NYSE, Euronext Respond To Regulatory Issues

Law360, New York (September 22, 2006, 12:00 AM EDT) -- Exchanges Euronext NV and NYSE Group Inc. are one step closer to merging, after proposing a plan for addressing cross-border regulatory issues.

In a filing with the U.S. Securities and Exchange Commission, the two exchanges offered a solution to international regulation issues that would provide oversight while still maintaining the sovereignty of the five exchanges involved in the merger.

The exchanges hope to create two groups—a Dutch foundation and a U.S. trust—which would address concerns about the cross-border application of financial reporting laws, like the Sarbanes-Oxley...
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