NYSE Chief to Meet With L.A. Seat Holders

New York Stock Exchange interim Chairman John S. Reed will meet with exchange seat holders today at the Westin Bonaventure Hotel in downtown Los Angeles as part of an eight-city “road show” to rally support for his reforms.

The trip concludes in San Francisco on Saturday. The holders of the 1,366 trading seats -- about 30 of whom live in California -- will vote on the reform package Tuesday, after which it will go to the Securities and Exchange Commission for final approval.

The plan calls for replacing the NYSE’s 27-member board of directors with a much smaller board whose members -- except for the chairman and chief executive -- have no business or regulatory ties to the exchange.

Thomas S. Mulligan