Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-56145; File No. SR-NASD-2007-023] I. Introduction On March 19, 2007, the National Association of Securities Dealers, Inc. (“NASD”) filed with the Securities and Exchange Commission (“Commission” or “SEC”) pursuant to section 19(b)(1) of the Securities Exchange Act of 1934 (“Exchange Act”)  [ 1 ] and Rule 19b-4 thereunder, [ 2 ] a proposed rule change to amend the By-Laws of NASD (“NASD By-Laws”) to implement governance and related changes to accommodate the consolidation of the member firm regulatory functions of NASD and NYSE Regulation, Inc. (“NYSE Regulation”), a wholly-owned subsidiary of New York Stock Exchange LLC (“NYSE LLC”). The proposed rule change was published for comment in the Federal Register on March 26, 2007. [ 3 ] The Commission received 80 comment letters from 72 commenters on the proposed rule change. [ 4 ] The NASD filed a response to comments on May 29, 2007 and a supplemental response to comments on July 16, 2007. [ 5 ] This order approves the proposed rule change. II. Description of the Proposed Rule Change In November 2006, NASD and NYSE Group, Inc. (“NYSE Group”)  [ 6 ] announced their plan to consolidate their member regulation operations into a single self-regulatory organization (“SRO”) that would provide member firm regulation for securities firms that do business with the pub…
Citation: 72 FR 42169
