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Once an investor contacts NYSE Regulation, a letter that acknowledges receipt and outlines procedures is issued. An analyst will investigate the complaint or inquiry and take one of two steps:
- If there has been no apparent rule violation, NYSE will take no further action in the matter.
- If a possible rule violation is detected, the analyst will refer the matter to the Enforcement division for further review.
As a matter of practice, the NYSE does not disclose the results of a review.
In some cases, an investor may be referred to another regulatory organization. The NYSE may also refer a complaint to another regulatory agency under additional circumstances, such as if NYSE Regulation finds that the matter is already under review by another self-regulatory organization or that a careful review of the complaint allegations determines it does not fall under NYSE jurisdiction.
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