The Securities Industry and Financial Markets Association endorsed today’s announcement that the New York Stock Exchange and the National Association of Securities Dealers (NASD) would consolidate their broker-dealer regulatory arms into a new, single regulator.

“This is great news for investors, the industry and the public,” said Marc Lackritz, co-CEO of SIFMA. “It will improve the quality of regulation for investors and the industry, while also creating a more efficient regulatory system.”

“Today’s announcement is a win-win for investors and the industry,” added Micah Green, co-CEO of SIFMA. “By making regulation clearer, less redundant and more cost efficient, compliance and supervision will become more effective and efficient.”

SIFMA also praised the Securities and Exchange Commission, Mary Schapiro of NASD and Rick Ketchum of NYSE for their leadership in bringing the two groups together.

The industry supported this move releasing a white paper in 2000 that described one model for such a merger when the exchanges first raised the idea of demutualization. In late 2003, the SEC issued a governance proposal on the concept and the industry redoubled its efforts. And, in 2005, SIFMA’s predecessor trade association released its goals and principles for any such organization.