The huge deal handed to Richard Grasso has been a massive corporate controversy in the States, and led William Donaldson, chairman of the SEC, to write a strongly worded letter to the NYSE.
The Financial Times reports the letter saying the package raises ‘serious questions regarding the effectiveness of the NYSE’s current governance structure’.
The letter continues: ‘Self-regulatory organisations must be models of good governance. In my March 26th letter to Mr Grasso, I urged that the NYSE demand of itself the same standards of governance that the exchange has proposed for its listed companies.’
The NYSE said it would respond by 9 September.
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements