{"id":3625,"date":"2006-12-14T13:50:17","date_gmt":"2006-12-14T13:50:17","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2006\/12\/nasd_and_nyse_group_inc_move_t"},"modified":"2022-07-22T08:42:08","modified_gmt":"2022-07-22T13:42:08","slug":"nasd-and-nyse-group-inc-move-t","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/nasd-and-nyse-group-inc-move-t\/","title":{"rendered":"NASD and NYSE Group Inc. Move Toward SRO Merger"},"content":{"rendered":"

The NASD (National Association of Securities Dealers) and the New York Stock Exchange (NYSE) Group Inc. took a major step forward toward developing a consolidated, single, not-for-profit self-regulatory organization (SRO). They recently signed a historic letter of intent for the merger. Before the SRO can be created however, both parties’ memberships and the SEC have to approve the bylaw amendments. The SRO is expected to be up and running after the first quarter of 2007.<\/p>\n

With a newly consolidated group working toward more efficient regulation, costs would be cut for broker-dealers because there no longer would be any duplicate oversight. There would also be one enforcement staff, one set of rules, and one set of examiners. Mary L. Shapiro, NASD chairman and chief executive officer, will be CEO of the organization. CEO of NYSE Regulation Richard G. Ketchum would remain in his position while also becoming the new SRO’s chairman of the board of governors.<\/p>\n

An SRO is a nongovernmental organization that has been entrusted to regulate its own members. The purpose of the New SRO is to enhance regulatory efficiency and consistency, and millions of dollars are expected to be saved once the new operation is fully running.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The NASD (National Association of Securities Dealers) and the New York Stock Exchange (NYSE) Group Inc. took a major step forward toward developing a consolidated, single, not-for-profit self-regulatory organization (SRO). They recently signed a historic letter of intent for the merger. Before the SRO can be created however, both parties’ memberships and the SEC have […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3789],"tags":[],"class_list":["post-3625","post","type-post","status-publish","format-standard","hentry","category-stockbroker-regulation"],"yoast_head":"\nNASD and NYSE Group Inc. 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