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Article: NASD, NYSE Creating Single SRO: Entity to Enforce MSRB Rules.
- Article from:
- The Bond Buyer
- Article date:
- November 13, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BOCA RATON, Fla. -- NASD and the New York Stock Exchange are working to create a new self-regulatory organization within a year that would regulate, examine, and conduct enforcement for all broker-dealer firms, including the enforcement of municipal securities rules.
Securities and Exchange Commission chairman Christopher Cox, disclosed the proposed creation of the group in a speech here Friday at the launch and first meeting of the Securities Industry and Financial Markets Association. He and NASD chairwoman Mary Schapiro talked further about it with reporters after the speech.
The proposal is important to the muni market because it puts the future of ...