US market oversight pact completed

WASHINGTON — The parent of the New York Stock Exchange and the Financial Industry Regulatory Authority say they have completed their agreement in which FINRA will take over the market surveillance and enforcement functions now conducted by NYSE Regulation. The agreement took effect Monday, according to the announcement by NYSE Regulation and FINRA, the brokerage industry's self-policing organization. FINRA will assume regulatory functions for NYSE Euronext's US equities and options markets. FINRA currently performs those functions for the Nasdaq Stock Market and Nasdaq Options Market as well as Nasdaq OMX in Philadelphia and Boston, the BATS Exchange and the International Securities Exchange. —AP