News Releases

The New York Stock Exchange LLC board recently approved an increase in the size of NYSE Regulation’s board to ten members. The remaining two directors will be appointed in the coming weeks. The ninth director will be an NYSE Group director, bringing NYSE Group representation to three. The tenth director will be a sixth unaffiliated member. 

 “These individuals bring enormous wisdom and experience to the board of NYSE Regulation and we are grateful that they have agreed to join us,” said Dr. Shirley Ann Jackson, chairman of the board of NYSE Regulation, Inc.

“NYSE Regulation is able to call upon some of the world’s brightest minds to guide our mission and these are two of the best,” said Ketchum, who became chief executive officer of NYSE Regulation earlier this year when the NYSE Group was restructured at the close of the Archipelago transaction. Ketchum joined the NYSE two years ago as Chief Regulatory Officer. “I look forward to working with them in the days to come.”

Friedman and Pechter joined the board as “fair representation” members.  As required by federal securities laws and as described in the U.S. Securities and Exchange Commission-approved rule filing related to the NYSE-Archipelago merger, the NYSE Regulation board must have two fair representation members who are appointed based on recommendations of NYSE member organizations. 
 
In April, the initial members of the board were announced: Dr. Jackson, former chairman of the U.S. Nuclear Regulatory Commission, current president of Rensselaer Polytechnic Institute and an NYSE Group board member; Ellyn L. Brown, former Maryland Securities Commissioner, and an NYSE Group director; North Carolina State Treasurer Richard H. 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; and Kurt P. Stocker, visiting lecturer at Northwestern University's Medill School of Journalism and chairman of the New York Stock Exchange Individual Investors Advisory Committee.

The Regulation Board is a central element of the corporate structure that extends the separation between NYSE Regulation, Inc. and NYSE Group, Inc.’s business activities. It oversees all compensation decisions for Regulation employees and will have sole responsibility for the nomination of new directors.  When it comes to disciplinary actions, the decisions of NYSE Regulation and its Board of Directors are final, although subject to appeal to the SEC.

 

NYSE Regulation, Inc., is a not-for-profit corporation dedicated to strengthening market integrity and investor protection.  A subsidiary of NYSE Group, Inc., NYSE Regulation’s board of directors is comprised of a majority of directors unaffiliated with any other NYSE board.  Each director must also be independent from member organizations and listed companies. As a result, NYSE Regulation is independent in its decision-making.

NYSE Regulation protects investors by regulating the activities of member organizations through the enforcement of marketplace rules and federal securities laws.  NYSE member organizations hold 98 million customer accounts or 84 percent of the total public customer accounts handled by broker-dealers.  Total assets of NYSE member organizations are over $4 trillion.  They operate from 20,000 branch offices around the world and employ 195,000 registered personnel. 

NYSE Regulation also ensures that companies listed on the NYSE and on NYSE Arca meet their financial and corporate governance listing standards.

NYSE Regulation consists of four divisions: Market Surveillance, Member Firm Regulation, Enforcement and Listed Company Compliance, as well as a Risk Assessment unit and Dispute Resolution/Arbitration.  For more information, visit our website at www.nyseregulation.com.