*Letters

SIA Submits Comments to the SEC on Supervisory Control Procedures

Published on:
December 18, 2002

The Self-Regulation and Supervisory Practices Committee of the Securities Industry Association (SIA)* provides comments to the Securities and Exchange Commissionon proposed changes submitted by the New York Stock Exchange, Inc (NYSE) and the National Association of Securities Dealers, Inc. (NASD) designed to enhance members’ supervisory control procedures, File Nos. SR-NYSE-2002-36 and SR-NASD-2002-162. SIA believes the costs involved in implementing certain provisions will be considerable, particularly for firms with large branch networks. In addition, SIAquestions the need for these provisions in light of the many tools currently employed by firms in addition to those available to regulators to address supervisory deficiencies.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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