SIA Issues Guidelines For Overhaul of Self-Regulatory Organizations

The Securities Industry Association has set four major goals that should underlie the imminent restructuring of self-regulatory organizations. In an effort to eliminate duplication, the SIA is recommending separating regulation of broker-dealers from marketplace regulation; better investor protections; fair competition, with regulations that will not stifle innovation; and efficient regulation, which would avoid duplication of examinations, investigations and market sweeps, harmonize rulebooks and end conflicting interpretations, as well as move toward more universal market rules.