Exchange status 'will reduce conflict of interest', says Nasdaq
NEW YORK – The approval of Nasdaq's application to become a securities exchange will eliminate the perception of conflict of interest between the market and its regulator, according to Nasdaq's general counsel, Edward Knight.
Nasdaq has been owned and regulated by the National Association of Securities Dealers (NASD), creating the conflict of interest that many industry participants have questioned.
The approval allows Nasdaq to become its own self-regulatory organisation (SRO), eliminating the need for the NASD to control, or own an interest in Nasdaq. The new exchange will have its own independent regulatory arm.
Knight says: "This is a critical change from the perspective of Nasdaq delivering a market which is
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