NYSE Delays Plan to go Public

Posted by accountingweb on Sep 6 1999 169 printer friendly

The New York Stock Exchange (NYSE) has delayed plans indefinitely for its own IPO while it provides tough answers to issues involving regulation and taxation.

Based on feedback from its own board of directors and other parties, chairman Richard Grasso said the NYSE made the decision to go forward with a strategic plan addressing public policy-related questions rather than solidify the IPO at this time. The NYSE, along with fellow Nasdaq stock market, are considering IPO status as a measure to stay ahead of competitors like the popular Internet-based trading exchanges.

One body that has expressed concerns is the Securities and Exchange Commission, who made the statement that the stock exchange's regulatory obligations might be in jeopardy to its shareholders if the IPO actually occurred.

Voice of the Editor

What would you do if one of your clients won the lottery? We asked several accountants to weigh in with their advice for the lucky Powerball winner, and the tips we received are useful for anyone who receives a windfall, whether it's a lottery win, an inheritance, a big bonus on the job, or a killing in the stock market.

This Week on AccountingWEB

CPAs Mira Finé, Scott Hitchcock, Rob Keasal, Kathy Scorcio, and Ken Travis offer ten pieces of financial advice for the newest Powerball winner.

Hang Bower of BDO USA and Dan Black of Ernst & Young share their perspectives on why their firms made the Best Places to Work for Recent Grads 2013 list.

Herbein + Company, Inc. firm members talked with AccountingWEB about their year-round employee wellness program.

Bill Walter of Gross, Mendelsohn & Associates and Harold Gaar of TravisWolff LLP weigh in on mobile technology use while employees are at work.