The Chairman’s Committee of the Euronext regulators met in Amsterdam on the 22 November, to consider a potential combination between the NYSE Group, Inc. and Euronext N.V. into NYSE Euronext.
The regulators are in the process of analysing a report from the joint taskforce, which was set up earlier this year to consider the potential combination. Currently the regulators are in the process of finalising their considerations. The Euronext regulators expect to come to the conclusion of their considerations, at the latest by early December.
Background
- On 1 June 2006, the NYSE Group and Euronext NV announced the signing of a combination agreement in order to create a new group, NYSE Euronext Inc. The holding company is proposed to be incorporated in the US, the shares of which would be listed on NYSE and on Euronext Paris. The proposed combination is subject to prior authorizations by the respective Euronext Regulators and, in some cases, the Ministers of Finance, on the European side and by the SEC in the United States.
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness.
