Will merger weaken regulatory oversight?: Local securities experts disagree on potential impact of NASD, NYSE combination
A merger of the two biggest regulators that police the nation’s 5,100 investment brokerages is drawing mixed reactions from the securities industry. NASD, formerly known as the National Association of Securities Dealers, and NYSE Group Inc., parent of the New York Stock Exchange subsidiaries, want to complete the merger by June 30. Supporters hail the alliance as a costcutting measure that will eliminate overlapping regulation and establish a uniform set of rules by placing oversight responsibility in a single, yet-to-be-named…