The Big Board Wants a New Top Cop

It's starting a search for a replacement for chief regulator Edward Kwalwasser, as pressure grows for tougher enforcement

Since the departure of Richard A. Grasso, one question has gone unanswered as Acting Chairman John Reed revamps the New York Stock Exchange's governance: Would the NYSE look for a new chief regulator, a position now held by much-criticized Edward A. Kwalwasser? The answer is at hand. BusinessWeek Online has learned that the exchange is indeed seeking a new top cop.

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