This excerpt taken from the NDAQ 10-Q filed May 9, 2008.
The Nordic Exchanges reputation depends on the diligent performance of its self-regulatory obligations.
The Nordic Exchange monitors trading on the Nordic Exchange and compliance with listing standards. It also monitors the listing of equities and other financial instruments. The prime objective of such monitoring activities is to maintain confidence in the exchanges among the general public. The monitoring functions within the Nordic Exchange are the responsibility of the Surveillance Committees. The Surveillance Committees are intended to strengthen the integrity of and confidence in the Nordic Exchange and to avoid conflicts of interest. Each of the Surveillance Committees consists of five members,
three of whom are independent. Any failure to diligently and fairly regulate the Nordic Exchange could significantly harm our reputation, prompt scrutiny from regulators and adversely affect our business and reputation.