The Securities and Exchange Commission issued for public comment an agreement among the major securities stock exchanges to join forces in their oversight of insider trading.

The order in SEC Release No. 34-58350, Program for Allocation of Regulatory Responsibilities Pursuant to Rule 17d-2; Notice of Filing of Proposed Plan for the Allocation of Regulatory Responsibilities Among the American Stock Exchange LLC, Boston Stock Exchange, Inc., CBOE Stock Exchange, LLC, Chicago Stock Exchange, Inc., Financial Industry Regulatory Authority, Inc., International Securities Exchange, LLC, The NASDAQ Stock Market LLC, National Stock Exchange, Inc., New York Stock Exchange, LLC, NYSE Arca Inc., NYSE Regulation, Inc., and Philadelphia Stock Exchange, Inc., was issued on August 13, 2008.

The agreement among the 11 stock exchanges and the Financial Industry Regulatory Authority (FINRA) and NYSE Regulation, Inc. will provide NYSE Regulation with responsibility for surveillance, investigation, and enforcement of insider trading in securities listed on the New York Stock Exchange and NYSE Arca. FINRA will monitor the activity in NASDAQ-listed and Amex-listed shares and stocks listed solely on the Chicago Stock Exchange.

Currently, each stock exchange is responsible for surveillance of its market and any investigations and enforcement actions involving its members.

The agreement was made under Section 17(d) and Rule 17d-2 of the Securities and Exchange Act of 1934, which allow the SEC to approve plans for the allocation of regulatory responsibility among self-regulatory organizations.

The agreement will take effect 21 days after publication in the Federal Register, which normally takes place a few days after publication on the SEC?s website.