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NYSE And NASD: There's A New Sheriff In Town

A new stock market regulatory agency is about to ride into town. The New York Stock Exchange and the NASD are announcing plans to combine their regulatory operations--and make the world's largest securities watch dog.

SEC Chairman Christopher Cox says this is a win win for investors and Wall Street. His comment airs on Closing Bell.

It's supposed to begin regulating in the second quarter of next year-- and help end a turf war over cutting compliance costs for Wall Street firms. This should also help "police" the ever-complex financial markets--so they say.

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