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Wall Street Roundup: Reducing the regulators. Jamie Dimon's pay raise.

February 18, 2011 |  7:20 am

Gold: Trading now at $1,385 per ounce, unchanged from Thursday. Dow Jones industrial average: Trading now at 12,333.01, up 0.1% from Thursday.

Washington on wall - carolyn cole Reducing the regulators. In the midst of the budget battle, Republicans voted to sharply reduce the Securities and Exchange Commission's funding -- taking it back to where it was before the financial reform bill was passed. An amendment to the budget legislation would kill the salaries of a number of top financial regulators, including the head of the Consumer Financial Protection Bureau.

Ignoring risk. A new study from an accounting firm found that most banks still have not changed their pay practices to reflect the riskiness of the investments their employees make.

Merger mania. Nasdaq and the InterncontinentalExchange appear to be talking about joining forces, and BATS Global Markets and Chi-X Europe have struck a deal in the days after the New York Stock Exchange agreed to sell itself to its large German rival.

Dimon's pay raise. JPMorgan Chase & Co. Chief Executive Jamie Dimon's pay for 2010 jumped to $17 million, more than his rivals at other big banks.

-- Nathaniel Popper in New York

Photo: The New York Stock Exchange. Credit: Carolyn Cole / Los Angeles Times

 

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