We've previously discussed the merger of the NASD regulatory unit and the NYSE regulatory unit before. Now, it has been officially announced. This only makes sense for most broker-dealers, although small firms have some legitimate issues as to whether this is fair to them. The combined organization will undertake enforcement actions, monitor arbitrations as well as govern the broker training and licensing program. The NYSE's regulation division will continue to be responsible for oversight of the NYSE and NYSE Arca. Presumably, the old NASD unit will oversee Nasdaq trading. And in a little holiday bonus: All NASD member firms will get a payment of $35,000, the value of expected savings from the merger. To some this payment seems really odd; it amounts to $178 million.

For more:
- Here's an update from TheStreet.com