What results from the merger of NASD and the regulatory part of NYSE?

The merger of the National Association of Securities Dealers (NASD) and the regulatory enforcement division of the New York Stock Exchange (NYSE) culminated in the formation of the Financial Industry Regulatory Authority, commonly known as FINRA. This organization was established to oversee brokerage firms and exchange markets, thereby enhancing investor protection and fostering market integrity in the United States.

FINRA took on the roles of regulating the securities industry, ensuring that firms operate fairly and honestly while also holding them accountable for their actions. This was a significant consolidation of regulatory functions within the securities industry, which aimed to streamline oversight and improve regulatory efficiency.

The other options represent different regulatory bodies with distinct functions. The Federal Reserve Board (FRB) is primarily involved in monetary policy and the regulation of banks, while the Securities and Exchange Commission (SEC) is the principal federal regulatory agency for the securities industry. The Commodity Futures Trading Commission (CFTC) oversees the derivatives markets, including futures and options. None of these entities resulted from the merger in question.