SIFMA seeks end to exchanges' SRO status

SIFMA called on the Securities and Exchange Commission to end the practice of allowing exchanges, such as the New York Stock Exchange and Nasdaq Stock Market, to operate as self-regulatory organizations. "A result of this structure is that one group of businesses is empowered to oversee and regulate the business and activities of its competitors. Conflicts of interest in this model abound and only worsen as they are left unresolved," SIFMA said in a letter to the SEC. Read SIFMA's news release.

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