Richard Ketchum, left, chief regulatory officer of NYSE Grou

UNITED STATES - NOVEMBER 28: Richard Ketchum, left, chief regulatory officer of NYSE Group Inc., and Mary Schapiro, center, chairman of the National Association of Securities Dealers (NASD), listen to Christopher Cox, chairman of the Securities and Exchange Commission (SEC), speak during a news conference in Washington, D.C., Tuesday, November 28, 2006. NYSE Group Inc. and the NASD agreed to form a single regulator for the securities industry, ending a turf war in order to cut compliance costs for Wall Street firms and better police ever-more complex financial markets. (Photo by Jay Mallin/Bloomberg via Getty Images)