The U.S. Securities and Exchange Commission announced that the Division of Market Regulation is reverting to the name, “Division of Trading and Markets” to better reflect its full range of responsibilities.

The division’s new name is a revival of its the name it used until 1972, when the SEC’s divisions were restructured.

The Division of Trading and Markets is responsible for policy development regarding markets, broker-dealers, clearing agencies, transfer agents, and other market participants. In addition to regulating major securities market participants, it provides consolidated oversight of five internationally active U.S. securities firms. It also oversees rating agencies and the business continuity practices and automation controls of the trading markets.

“The division’s focus has expanded in scope as a result of both recent legislation and the dramatic changes in the markets due to technology and innovation, globalization, and other forces,” said SEC chairman Christopher Cox. “Ironically, from a naming standpoint this is ‘back to the future’ for the division, because its new name has a pedigree. In the view of the professional staff, the pre-1972 title better reflects the division’s current responsibilities. It’s nice when tradition and future directions converge.”