The Grasso scandal is sparking a new wave of governance changes
Just when you thought it was safe to declare confidence in the US markets, the Richard Grasso scandal broke at the New York Stock Exchange. Grasso, both chairman and chief executive of the exchange, was forced to resign after it emerged that his contract had earned him a payday of close to $200 mn. Several directors of the exchange followed Grasso to the exit, and a roots-to-branch shake-up of the constitution of the exchange and its regulatory powers is sure to follow.The NYSE isn't a listed
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