FINRA was established in 2007 through the merger of the National Association of Securities Dealers (NASD), the most influential securities industry self-regulatory organization in the United States at the time, and the New York Stock Exchange Regulation (NYSERegulation, Inc.). FINRA's primary function is to strengthen investor protection and market integrity through efficient regulation and technical support, and is primarily responsible for the trading practices of the over-the-counter (OTC) markets and the operations of investment banks. As a non-governmental organization, FINRA's existence is also an important step in the development of an effective marketplace that is self-regulating.