Amadeusz Juskowiak

Nyse to study regulation of security industry

The New York Stock Exchange said it will begin a review of regulation in the securities industry to determine what changes may be needed to maintain the integrity of the market and protect investors in coming years

The Exchange said the study is needed because of the rapid changes taking place in the securities industry Among the factors it cited were the increase in trading volume the proliferation of new trading instruments and the rise of computerized trading techniques

The Exchange did not mention however the insider trading scandal that has caught several top Wall Street executives

The NYSE said its study will be chaired by Richard R Shinn executive vice chairman of the Exchange and former chairman and chief executive officer of Metropolitan Life Insurance Co

Other members of the study committee include Charles F Barbar former chairman of Arsarco Inc AR Roger Birk chairman emeritus of Merrill Lynch and Co MER and Irwin Guttag chairman of the NYSE special surveillance committee

The committees report should be completed by the end of the year the Exchange said

Reuter