An excellent case for full disclosure

david pauly

The NYSE shenanigans highlights the need for more disclosure of vital information

Dick Grasso and his cohorts at the New York Stock Exchange have done investors a huge favour - inadvertently, of course. The shenanigans involving Grasso's pay as CEO of the world's best-known stock market make an excellent case for full disclosure of the activities of public enterprises. Surely, if the interested parties, floor members of the NYSE, companies that list their shares on the exchange and the top US markets regulator, the SEC, had known Grasso was accumulating $187.5m in deferred and retirement benefits, that much money could never have been paid. When it did come, the NYSE'...