7.30.2009 The SEC declared effective a proposed plan for allocation of regulatory responsibilities pursuant to Rule 17d-2 under the Securities Exchange Act of 1934. The purpose of the so-called 17d-2 Plan is to add NYSE Amex LLC as a party to the existing 17d-2 Plan by and among National Association of Securities Dealers, Inc. (NASD) (n/k/a FINRA), New York Stock Exchange LLC, and NYSE Regulation, Inc., without altering the scope of that Plan. Accordingly, the proposed 17d-2 Plan is intended to reduce regulatory duplication for firms that are common members of either NYSE and FINRA or NYSE Amex and FINRA. Pursuant to the proposed 17d-2 Plan, FINRA would assume certain examination, enforcement and surveillance responsibilities for members of either NYSE and FINRA or NYSE Amex and FINRA as well as the associated persons therewith with respect to certain rules.
The text of the Plan delineates the proposed regulatory responsibilities with respect to the Parties. Included in the proposed Plan is Exhibit 1 that lists every NYSE rule, and NYSE Amex Equities rule, for which FINRA would bear responsibility under the Plan for overseeing and enforcing with respect to common members.
Click http://www.sec.gov/rules/other/2009/34-60409.pdf to access the release.