Broker Watchdog Changes Name to not Offend Muslims

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A name chosen to represent the merger of two major U.S. brokerage watchdogs will be changed because the acronym may be considered offensive due to its similarity to an Arabic term.

The Securities Industry Regulatory Authority, or SIRA, was the name that had been announced to represent the combination of NASD and NYSE Regulation.

SIRA, which will be regulator for all securities brokers and dealers doing business with the public in the United States, is now considering the name Financial Industry Regulatory Authority, or FINRA.

When NASD chairman Mary Schapiro announced the name SIRA at a luncheon in June, she was not aware that it "could create confusion or be considered offensive because of its similarity to an Arabic term used to refer to the traditional biographies of Muhammad."

http://www.washingtonpost.com/wp-dyn/content/article/2007/07/12/AR2007071201785.html
 

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