The Securities Industry: Economic Implications for the FutureU.S. Government Printing Office, 1981 - 246 páginas |
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Palavras e frases frequentes
activities Bache basic Bayless believe broker-dealer brokers capital gains tax capital markets CBOE CFTC Chairman changes COLLINS committee commodities companies competing competition concern CONGRESS LIBRARY CONGRESS THE LIBRARY continue corporate customers dealer deregulation disclosure economic efficient equity Exchange Commission execution financial institutions financial markets financial services FITZGERALD function future Glass-Steagall Act going growth Hambrecht Hambrecht & Quist increased innovative interest investment issues laws legislation LIBRARY OF CONGRESS LOEFFLER LUKEN marketplace member firms ment mergers Merrill Lynch money market funds NASD NASDAQ NASDAQ System national market system NYSE offer operations order flow over-the-counter Pacific Stock Exchange participation percent profit question rates recent regulation regulatory revenue bonds RICKERSHAUSER Securities and Exchange securities business securities firms securities industry securities markets self-regulatory SHAD significant statement subcommittee Thank tion transactions trend underwriting volume WIRTH York Futures Exchange York Stock Exchange
Passagens conhecidas
Página 186 - I would be glad to answer any questions the members of the subcommittee may have. Mr.
Página 57 - The Congress finds that— (A) The securities markets are an important national asset which must be preserved and strengthened. (B) New data processing and communications techniques create the opportunity for more efficient and effective market operations. (C) It is in the public interest and appropriate for the protection of investors and the maintenance of fair and orderly markets to assure — (i) economically efficient...
Página 240 - Nothing in this title shall affect the jurisdiction of the securities commission (or any agency or officer performing like functions) of any State over any security or any person insofar as it does not conflict with the provisions of this title or the rules and regulations thereunder.
Página 88 - Established under authority granted by the 1938 Maloney Act Amendments to the Securities Exchange Act of 1934, the NASD is the largest self-regulatory organization for the securities industry in the world.
Página 239 - The name that is given to the law indicates the evil at which it is aimed; that is, to use the language of a cited case, 'speculative schemes which have no more basis than so many feet of "blue sky...
Página 9 - The linking of all markets for qualified securities through communication and data processing facilities will foster efficiency, enhance competition, increase the information available to brokers, dealers and 786 investors, facilitate the offsetting of investors' orders, and contribute to best execution of such orders.
Página 157 - ... forward in the development of market linkage systems. Under the sponsorship of the New York Stock Exchange, work is proceeding on the implementation of an intermarket trading system ("ITS") linking the principal exchange markets. The ITS is an electronic inter-market order routing facility which would permit orders for the purchase and sale of multiply-traded securities to be sent directly from one market center to another. In early March, 1978, five exchanges submitted the ITS plan under Section...
Página 205 - I would like to express my appreciation to the committee for the opportunity to testify on behalf of the General Board of the Church of the Brethren.
Página 58 - ... to brokers, dealers, and investors of information with respect to quotations for and transactions in securities; (iv) the practicability of brokers executing investors...
Página 42 - Luchshe byt' bogatym i zdorovym, chem bednym i bol'nym" ("It is better to be rich and healthy than poor and sick").