The issues include the degree of federal involvement in the management of the exchanges, the overall structure and governance of the exchanges, the requirements for insurance plans to be offered on the exchanges, and the design of the exchanges themselves.
The Commission has helped improve governance of the exchanges and the Nasdaq (which, aptly at times, have been compared to "private clubs"), strengthened accounting and auditing standards and brought enforcement cases against investment banks, private corporations and accounting firms.
He returned to conduct a study of the Exchange in 1971 where his insight and initiative led to changes in the governance of the Exchange.
A1 Changes in the governance of the exchange appear to be inevitable.
Changes in the governance of the exchange also appear to be inevitable, both in terms of structure and personnel.
Mr Reed wants representatives from big investing institutions, such as mutual-fund managers and pension funds, to get more involved in the governance of the exchange.
During the directors' meeting held by phone on Wednesday that resulted in Mr. Grasso's departure, Mr. Paulson brought up his outline for changes in governance of the exchange, according to directors.
After Mr. Grasso's resignation was announced, Laura Cox, managing executive for external affairs at the Securities and Exchange Commission, said: "The S.E.C. will continue its review of governance standards and will work closely with the new leadership at the exchange to put an appropriate structure in place that will ensure the credibility and integrity of the governance of the exchange".
The reigning powers display appropriate outrage at the breakdown of the "governance" of the exchange.
Good urban planning and governance, exchange of best practice models and the determination and leadership of stakeholders across disciplines, sectors, communities and countries will be critical elements of success.
