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REGULATION
SEC chief probes NYSE structure
The NYSE's roles of regulator and competitive business must be looked at as part of a reform process for the exchange, SEC Chairman William Donaldson said. Temporary NYSE head John Reed has said he's eager to start reforms and indicated he's not rushing to remove Wall Street executives from the exchange's 27-member board.
** The SEC is probing Freddie Mac for fraud, even though it's not the mortgage lender's main regulator. Freddie admits underreporting around $4.5 bil in sales to smooth earnings during sluggish times.
** The Chicago Stock Exchange will boost its surveillance authority to settle charges it didn't enforce some trading rules, the SEC said.
TECHNOLOGY
Microsoft's media play, take two