COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE OREN HARRIS, Arkansas, Chairman JOHN BELL WILLIAMS, Mississippi SAMUEL N. FRIEDEL, Maryland TORBERT H. MACDONALD, Massachusetts GEORGE M. RHODES, Pennsylvania JOHN JARMAN, Oklahoma LEO W. O'BRIEN, New York JOHN E. MOSS, California JOHN D. DINGELL, Michigan JOE M. KILGORE, Texas PAUL G. ROGERS, Florida ROBERT W. HEMPHILL, South Carolina DAN ROSTENKOWSKI, Illinois HORACE R. KORNEGAY, North Carolina JOHN B. BENNETT, Michigan J. ARTHUR YOUNGER, California CONTENTS Statement of- Brown, Alexander J., Jr., Acting Regional Administrator, Washington Bryan, Irving, Chief, Legislation and Opinions Division, Office of Cary, William L., Chairman, Securities and Exchange Commission__ Fleischer, Arthur, legal assistant to the Chairman, Securities and Fulton, Wallace H., executive director, National Association of Ilgenfritz, Joseph J., Director of Licenses and Inspections, District of Kneipp, Robert F., Assistant Chief, Legislation and Opinions Division, Korman, Milton D., Principal Assistant Corporation Counsel, District Law, Stuart, attorney, Division of Trading and Exchanges, Securities Loomis, Philip A., Director, Division of Trading and Exchanges, 26 White, Marc A., counsel, National Association of Securities Dealers, 20 2222 20 Additional information submitted for the record: Gray, Chester H., Corporation Counsel, District of Columbia, letter III |