European regulators have set up a committee to examine the legal and regulatory implications of the proposed merger between Euronext and the New York Stock Exchange.

The committee, composed of regulators from France, the UK, Portugal and the Netherlands, includes Callum McCarthy of the UK's Financial Services Authority and Michel Prada, head of France's AMF. They will examine whether European companies would be subject to the US Sarbanes-Oxley governance rules and look at the effect of the deal on stakeholders and users of Euronext's markets.