NYSE Rejects Calls To Spin Off Regulatory Arm

Law360, New York (February 9, 2006, 12:00 AM EST) -- The New York Stock Exchange has responded to critics’ complaints about the proposed arrangement of its regulatory arm after the Exchange’s merger with Archipelago Holdings Inc. triggers its transition to a for-profit company.

Critics, including the $200-billion California Public Employees’ Retirement System (CalPERS), had complained to the Securities and Exchange Commission that the NYSE’s proposed arrangement did not fully remove any conflict of interest between the proposed NYSE Group Inc. and NYSE Regulation Inc.

The complaints arose after the NYSE proposed the rule change to pave...
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