Legislators scrutinise self- regulation at stock exchanges

REGULATORY UPDATE

NEW YORK -- The scandal in which the New York Stock Exchange (NYSE)’s former chairman and CEO Richard Grasso was awarded a $140 million pay package looks set to change the way US securities market-places are managed. Legislators scrutinised corporate governance practices at US stock exchanges at an October hearing of the House of Representatives’ Subcommittee on capital markets.

During the hearing -- Reviewing US capital market structure: the New York Stock Exchange and related issues -- the

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