Summaries, conclusionsU.S. Government Printing Office, 1963 |
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Página
... Selling practices.- 163 Part C. Reciprocal business - The problems of allocating mutual fund portfolio brokerage_ 171 Part D. Insider transactions in portfolio securities . 173 Chapter XII . The regulatory pattern ... . 177 Part A ...
... Selling practices.- 163 Part C. Reciprocal business - The problems of allocating mutual fund portfolio brokerage_ 171 Part D. Insider transactions in portfolio securities . 173 Chapter XII . The regulatory pattern ... . 177 Part A ...
Página 4
... selling practices and invest- ment advice . The examples of sales techniques cited by the study show a striking spectrum : from the illegal operations of boiler rooms to the disciplined patterns of the responsible , reflecting elaborate ...
... selling practices and invest- ment advice . The examples of sales techniques cited by the study show a striking spectrum : from the illegal operations of boiler rooms to the disciplined patterns of the responsible , reflecting elaborate ...
Página 5
... selling practices , misleading public relations , irresponsible investment advice , and erratic " after markets " for new issues , which can be greatly miti- gated by the more complete availability and dissemination of financial ...
... selling practices , misleading public relations , irresponsible investment advice , and erratic " after markets " for new issues , which can be greatly miti- gated by the more complete availability and dissemination of financial ...
Página 6
... selling practices and initiated new qualification stand- ards . The NASD has undertaken a comprehensive revision of its bylaws and Rules of Fair Practice . Broker - dealers have reviewed and altered their systems of supervision . It ...
... selling practices and initiated new qualification stand- ards . The NASD has undertaken a comprehensive revision of its bylaws and Rules of Fair Practice . Broker - dealers have reviewed and altered their systems of supervision . It ...
Página 10
... selling practices , and the market break of May 1962. As in the case of report , the Special Study was given freedom to ut problems as they appeared to it ; in this respect yses , and recommendations in the report are those y and not ...
... selling practices , and the market break of May 1962. As in the case of report , the Special Study was given freedom to ut problems as they appeared to it ; in this respect yses , and recommendations in the report are those y and not ...
Términos y frases comunes
action activities American Stock Exchange Amex appropriate areas automation basis board of governors broker chapter commission rate Commission's committees concludes and recommends consideration contractual plans convertible bonds dealer disciplinary disclosure effective enforcement Exchange Act exchange markets Exchange's execution existing Federal floor trading front-end load function important insider trading institutions interdealer investment advisers investment company investors involved issuers issues kets limited listed securities member firms ment mutual fund NASD nonmember NYSE odd-lot over-the over-the-counter markets over-the-counter securities participation percent present primary market makers principal problems procedures public interest purchase quotation system regional exchanges registered regulation regulatory respect responsibility retail role rules salesmen section 11(b securities business securities industry securities markets self-regulation self-regulatory agencies self-regulatory organizations selling practices short sales short selling Special Study concludes specialists staff standards substantial tion transactions U.S. Steel underwriters wholesale York Stock Exchange
Pasajes populares
Página 76 - Commission shall by order suspend such registration if, after appropriate notice and opportunity for hearing, such suspension shall appear to the Commission to be necessary or appropriate in the public interest or for the protection of investors.
Página 15 - Department of the Wharton School of Finance and Commerce of the University of Pennsylvania.
Página 11 - Subcommittee's hearings, testimony was received from representatives of the New York Stock Exchange and the National Association of Securities Dealers, Inc.
Página 88 - ... the offer or selling at the bid, whether such transactions are to establish or to liquidate a position. Provisions should be made for exemptions from the rules with approval of floor officials and for systematic review by the respective floor departments. As to the general obligation of specialists to participate to the extent reasonably necessary to maintain a fair and orderly market, the rules should give emphasis to the concept of continuity with reasonable depth, that is, participating in...
Página 127 - market maker" shall mean a dealer who, with respect to a particular security, holds himself out (by entering indications of interest in purchasing and selling in an interdealer quotations system or otherwise) as being willing to buy and sell for his own account on a continuous basis otherwise than on a national securities exchange. (2) The term "common stock
Página 102 - Commission determines that such exchange has not made the changes so requested, and that such changes are necessary or appropriate for the protection of investors or to insure fair dealing in securities traded in upon such exchange or to insure fair administration of such exchange...
Página 138 - ... individual holdings with the purpose of informing and protecting the interests of the beneficiaries. In view of the general importance of the funds in the securities markets, there is an independent reason to favor this. Recommendations The Commission should obtain and publish more continuous data about institutional participation in the securities markets, including securities held, amounts of gross and net purchases over periods of time. and turnover rates. The growing importance of institutional...
Página 11 - ... quasi-publicutility institutions, much as do railroads, power companies, or telephone companies. Essentially the same point applies to a self-regulatory body such as the National Association of Securities Dealers in its operation of a retail quotation system. While the basic reliance on industry self-regulation appears to have stood the test of time and to have worked effectively in most areas, this does not lessen the need to look at the inadequacies and seek remedies for them.
Página 199 - Commission review the exchanges have followed varied practices in reporting their disciplinary actions to the Commission. The Commission has not established an effective system of regular surveillance of the exchanges' enforcement and disciplinary activities. In general, it has equipped itself, in personnel and procedures, only for the more passive role of surveying whatever is brought to its attention through reporting systems established, perhaps years ago, with the various exchanges.
Página 202 - Recommendations is an essential role of the Commission to see that there is no gap between the need and the self-regulation provided. Regulation should, in short, be a cooperative effort, with the government fostering maximum selfregulatory responsibility, overseeing its exercise, and standing ready to regulate directly where and as circumstances require. To provide reasonable opportunity for examination of exchange rules before they take effect, the present NASD pattern calling for thirty-day advance...