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SEC's Cox Supports One Self-Regulator Nov. 13, 2006 (Associated Press) BOCA RATON, Fla. - Securities and Exchange Commission Chairman Christopher Cox said Friday he is strongly supportive of a move toward a single self-regulatory organization to oversee U.S. brokerage firms and brokers. He spoke at the annual conference of the Securities Industry and Financial Markets Association in Boca Raton, Fla. Cox told reporters here that he thinks a single self-regulatory organization for the brokerage industry "is virtually necessary" to eliminate duplication of oversight. "Consolidation of regulators is something that's very important," Cox said. "I'm strongly supportive of this notion." The New York Stock Exchange and NASD, formerly the National Association of Securities Dealers, have been exploring ways to combine oversight of the brokerage industry. Cox said that those discussions are "very far along" and that the SEC has encouraged those discussions. |
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