New York (Sept. 3, 2003) -- Securities and Exchange Commission chairman William Donaldson is demanding that the New York Stock Exchange explain the details of a $140 million payout to its chairman Richard Grasso.

The NYSE paid Grasso the $140 million in a lump-sum from deferred compensation and retirement accounts. This is in addition to Grasso’s recently disclosed earnings of nearly $2.5 million, between salary and bonuses.

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