SEC OKs Merger Of Stock Market Regulators

Law360, New York (July 27, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission on Thursday granted approval to the merger of the National Association of Securities Dealers Inc. and NYSE Group Inc.’s regulatory bodies, creating one overarching organization that will oversee member firm regulation.

The new consolidated self-regulatory organization, call the Financial Industry Regulatory Authority or FINRA, will combine the regulatory oversight of the NASD and NYSE Regulation Inc. and will operate under SEC oversight, the Commission said.

FINRA will oversee all securities firms that do business with the public, as well as...
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