SIA, BMA to Merge

The Securities Industry Association and the Bond Market Association last week agreed to merge, to form the Securities Industry and Financial Markets Association. Subject to membership approval, the merger is expected to close by year-end. The combined body will be more efficient and give members a more powerful voice, officials say. The boards will evaluate candidates for the leadership roles over the next six months. In the interim, James Gorman and Edward Forst, chairmen o