NASD members approve regulatory merger with NYSE
NASD members approve regulatory merger with NYSENASD announced Sunday that its members had voted to approve a plan to merge its regulatory functions with those of the New York Stock Exchange, ending decades of dual regulation of broker-dealers. "The most recent figures available show that compliance costs have doubled in a three year period to more than $25bn in 2005, up from $13bn in 2002," said Micah Green, co-CEO of SIFMA. "A single regulator with one rulebook, one set of procedures and one set of examinations will eliminate regulatory confusion and reduce wasteful redundancy," Green added.
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posted by Victor Lloyd Smith @ 5:05 PM
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