In February 2006, the Securities and Exchange Commission approved the merger of the New York Stock Exchange with Archipelago Holdings, Inc. conditioned on, among other things, an undertaking by the NYSE to work with the National Association of Securities Dealers, Inc. to eliminate inconsistent rules. To do this, the NYSE established a Compliance Advisory Group of NYSE staff and member firm representatives to make recommendations to the NYSE and NASD. Four subcommittees were established – Member Firm Organization/Structure and Governance; Supervision; Registration, Qualification and Continuing Education; and Sales Practices. Because of the pending merger of segments of NYSE Regulation and NASD, NYSE arbitration rules were not fully addressed as it is unlikely that NYSE arbitration facilities will continue after the merger. Also, rules dealing with NYSE market operations are unique to the NYSE and were not addressed. A total of 128 rules are to be amended - 21 Sales Practice Rules, 9 Financial Operational Rules, 10 Buy-In Rules and 88 rules relating to member trading, proxy, account and credit operations, and replacement of the terms “member” and “allied member.”$FILE/NYSE-2007-22%20Omnibus%20SRO%20Harmonization.pdf$FILE/SRO%20Harmonization%20Report%20for%20NYSE-2007-22.pdf