The New York Stock Exchange plans to continue to compel brokerages to make meaningful reforms, The Globe and Mail reports, quoting NYSE Enforcement Chief Susan Merrill.

"A sanction must be sharp enough that it will not be shrugged off as simply another cost of doing business," Merrill told lawyers at the Toronto firm Borden Ladner Gervais. "Where misconduct has been serious, the sanction probably has to be severe. A sanction should be a memorable event; it should not be part of the routine."

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