Bill Singer on Natl Public Radio
Mar 8, 2006 3:45 pm
PRESS RELEASE Veteran Regulatory Lawyer Calls SROs a Failure Interviewed on NPR/Marketplace for March 9, 2006 Contact: Bill Singer 917-520-2836 email: rrbdlaw[email protected] website: http://rrbdlaw.com Former self-regulatory lawyer (American Stock Exchange and NASD) Bill Singer doesn't pull his punches during tomorrow morning's radio interview with Amy Scott, reporter for National Public Radio's Marketplace. http://marketplace.publicradio.org/reporters/scott.html Singer, a prominent critic of self-regulatory organizations (SROs), describes the current state of regulation on Wall Street as a failed experiment and warns against too quickly jumping on the bandwagon of merging the New York Stock Exchange and the NASD into a new SRO. He argues that the industry is subjected to overly expensive and duplicative regulation by competing regulators, and the public is short-changed by outdated enforcement approaches. Moreover, Singer warns that the upcoming Congressional hearings on SROs are just another parade of the same faces and does not seem calculated to include prominent dissidents.