In a move supported by the SEC, NYSE Group and the NASD said Tuesday that they have signed a letter of intent to merge their regulation operations to reduce costs and improve market policing. The new SRO will perform member review, enforcement and dispute resolution functions as well as market regulation for Nasdaq. NYSE Regulation said it will continue to oversee NYSE trading activity. The NASD also plans to make a one-time $35,000 payment per member and to gradually reduce annual dues.
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Posted on Thursday, November 30th, 2006. Filed under: Business Law, Law Misc
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