SEC mulls bylaws sought by NASD
The SEC is considering NASD’s proposed bylaw changes that would enable it to merge its regulatory functions with the NYSE.
The SEC is considering NASD’s proposed bylaw changes that would enable it to merge its regulatory functions with the NYSE. In January, NASD’s membership signed off on the changes, which would allow the two SROs to create a single entity to oversee all brokers; now the SEC must give its approval. Meanwhile, a lawsuit recently was filed against Washington-based NASD that challenges the way it held its membership vote on the bylaw changes. For a look at the SEC proposal, go to http://www.sec.gov/rules/sro/nasd/2007/34-55495.pdf
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