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

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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.

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.

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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

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