The NYSE and the NASD are in talks to merge their regulatory operations, MSNBC reported on Monday. A deal could come in the next few months. It is not yet clear whether a deal will actually go through, or whether they would merge their arbitration systems or keep them separate. Nor has it been decided who would run the merged entity—Mary Schapiro, president of NASD Regulation, or Richard Ketchum, chief executive officer of NYSE Regulation.

The industry has long called for a single self-regulatory body because the NASD and NYSE have a number of overlapping rules for members.

For more on this topic, check out previous stories:

NYSE Chief John Thain Attacks “Excessive” Regulation

NYSE Reg. And NASD: Merge ‘Em?; A Senate Committee Opens Hearings on SROs