Named to the NYSE Regulation board of directors are: North Carolina State Treasurer Richard Moore, who oversees the pension funds of nearly 600,000 North Carolina public sector employees; Mark A. Sargent, dean and professor of Law at Villanova University School of Law; and Kurt P. Stocker, visiting lecturer at the Northwestern University's Medill School of Journalism and chairman of the New York Stock Exchange Individual Investors Advisory Committee.
Dr. Shirley Ann Jackson, former chairman of the U.S. Nuclear Regulatory Commission, current president of Rensselaer Polytechnic Institute, and an NYSE Group board member, will serve as chairman of NYSE Regulation, Inc. Also named to the board is Ellyn L. Brown, former Maryland Securities Commissioner, and current NYSE Group director. Both Jackson and Brown were previously members of the New York Stock Exchange board’s now-dissolved Regulatory Oversight Committee.
“We are assembling a group of experienced and talented board members who will be invaluable in guiding us through the challenges ahead,” said Dr. Jackson. “The board has a range of experience that should serve investors well.”
“I look forward to working with the new NYSE Regulation board as we continue to expand our vitally important work of ensuring integrity in the marketplace and protecting investors,” said Richard G. Ketchum, chief executive officer, NYSE Regulation, Inc.
When all board seats are filled, the NYSE Regulation board will be composed initially of five directors with no affiliation with the NYSE Group board, member organizations or listed companies; and three directors who are also NYSE Group directors.
As required by federal securities laws and as described in the SEC-approved rule filing related to the NYSE-Archipelago merger, the NYSE Regulation board will have two “fair representation” members that will be appointed in the coming weeks based on the recommendations of a committee representing member organizations.
Ketchum will also become a director once the entire board of eight directors is in place. The chief executive officer of NYSE Regulation has primary responsibility for the regulatory oversight of NYSE Group and its exchange subsidiaries, and reports solely to the NYSE Regulation board of directors.
About NYSE Regulation, Inc.
NYSE Regulation, Inc., is a not-for-profit corporation dedicated to strengthening market integrity and investor protection. A subsidiary of NYSE Group, Inc., NYSE Regulation’s board of directors is comprised of a majority of directors unaffiliated with any other NYSE board. Each director must also be independent from member organizations and listed companies. As a result, NYSE Regulation is independent in its decision-making.
NYSE Regulation protects investors by regulating the activities of member organizations through the enforcement of marketplace rules and federal securities laws. NYSE member organizations hold 98 million customer accounts or 84 percent of the total public customer accounts handled by broker-dealers. Total assets of NYSE member organizations are over $4 trillion. They operate from 20,000 branch offices around the world and employ 195,000 registered personnel. NYSE Regulation also ensures that companies listed on the NYSE and on NYSE Arca meet their financial and corporate governance listing standards.
NYSE Regulation consists of four divisions: Market Surveillance, Member Firm Regulation, Enforcement and Listed Company Compliance, as well as a Risk Assessment Unit and Dispute Resolution/Arbitration. For more information, visit our website at www.nyseregulation.com.