NASD Firms Approve Consolidation With NYSE

Law360, New York (January 22, 2007, 12:00 AM EST) -- The New York Stock Exchange and the National Association of Securities dealers are one step closer to creating a single self-regulatory organization, after NASD member firms voted to approve changes to the organization’s bylaws.

Of the 5,058 firms eligible to vote, 83% participated, and 64% supported the changes to the bylaws, which were necessary to facilitate the combination of the two regulators.

NASD Chairman and CEO Mary L. Schapiro praised the “many NASD members [that] took the time to study the proposal and to participate in...
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