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SEC, and Frank Zarb, boss of Nasdaq, are old friends who used to work together.
ECONOMIST: Super messy
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To make matters worse, the strategy launched by Mr Simmons's predecessor, Frank Zarb, has been unravelling.
ECONOMIST: American exchanges
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"He has been getting ready for this all his life, " said Frank Zarb, chairman of the NASDAQ.
CNN: Turnaround Guy