| NYSE Regulation, Inc., named the first five members to what will be a nine-person board of directors. The creation of a board separate from that of NYSE Group, Inc. (NYX), was designed to further divorce NYSE Group’s regulatory function from its business activities.
The five directors named to the board of NYSE Regulation are North Carolina State Treasurer Richard Moore, who oversees the pension funds of nearly 600,000 North Carolina public sector employees; Mark A. Sargent, dean and professor of law at Villanova University School of Law; Kurt P. Stocker, visiting lecturer at Northwestern University’s Medill School of Journalism and chairman of the NYSE Individual Investor Advisory Board; Dr. Shirley Ann Jackson, former chairman of the U.S. Nuclear Regulatory Commission and current president of Rensselaer Polytechnic Institute; and Ellyn L. Brown, former Maryland Securities Commissioner. Dr. Jackson, who will serve as chairman of NYSE Regulation, and Ms. Brown are also directors of NYSE Group.
“I look forward to working with the new NYSE Regulation board as we continue to expand our vitally important work of ensuring integrity in the marketplace and protecting investors,” said Richard G. Ketchum, CEO of NYSE Regulation.
When all board seats are filled, the NYSE Regulation board will be composed initially of five directors with no affiliation with the NYSE Group board, member organizations or listed companies; and three directors who are also NYSE Group directors. Mr. Ketchum will also become a director once the entire board of eight is in place.
As required by federal securities laws and as described in the SEC-approved rule filing related to the NYSE-Archipelago merger, the NYSE Regulation board will have two “fair representation” members who will be appointed on the recommendations of a committee representing member organizations.
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