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11-20-62

17-343499

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SECURITIES AND EXCHANGE COMMISSION,

Washington, D.C., September 17, 1963. The PRESIDENT OF THE SENATE, The SPEAKER OF THE HOUSE OF REPRESENTATIVES.

SIR: On August 8, 1963, the Commission transmitted to the Congress the final chapters of the Report of the Special Study of Securities Markets. This report was authorized by section 19(d) of the Securities Exchange Act of 1934, Public Law 87–196. Today I have the honor to transmit in one volume, designated as part 5 of the report, all of the summaries, conclusions, and recommendations of the Report of the Special Study, as well as the letters of the Commission and of the Special Study of Securities Markets which transmitted the various installments of the report.

This material, when printed as a single volume, is expected to serve an important and necessary purpose. The scope and the size of the report create a need to present the findings of the Special Study in a concise form. As a single volume, this report should be useful to many persons, both in Government and private industry, who may not have an opportunity to read the report in its entirety. By direction of the Commission:

WILLIAM L. Cary, Chairman.

III

DETAILED TABLE OF CONTENTS OF PART 5

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Part J. Automation-Its needs and possibilities

Chapter VII. Over-the-counter markets---

Chapter VIII. Trading markets—Interrelationships.

Part A. Introduction-Scope of chapter----

Part B. The basic allocation between exchanges and over the

counter (as primary markets)-

Part C. Institutional participation and block transactions.

Part D. Over-the-counter markets in exchange-listed securities.-

Part E. Allocation among exchanges—The regional exchanges as

primary and secondary markets---

Part F. General considerations.---.

Chapter IX. Obligations of issuers of publicly held securities.

Part A. Introduction.-

Part B. Protections for investors in listed and unlisted securi-

ties ----

Part C. Corporate publicity and public relations-

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tution.

Part E. The Pacific Coast Stock Exchange as a self-regulatory

institution.

Part F. The other exchanges as self-regulatory institutions--

Part G. The NASD as a self-regulatory institution.

Part H. Certain quasi-self-regulatory organizations-

Part I. Self-regulation and the Commission...

Part J. The total regulatory burden-The need for increased

coordination-The role of the States...

Chapter XIII. The market break of May 1962.-

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