SEC mulls bylaw changes sought by NASD
The SEC is considering NASD’s proposed bylaw changes that would enable NASD to merge its regulatory functions with the NYSE.
The SEC is considering NASD’s proposed bylaw changes that would enable NASD 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 against Washington-based NASD that challenged the merger recently was dismissed. For a look at the proposed bylaw changes, go to http://www.sec.gov/rules/sro/nasd/2007/34-55495.pdf
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