Institutional Membership on National Securities Exchanges: Hearings, Ninety-second Congress, Second Session, on S. 1163 and S. 3347 ... |
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Page 437
... potential for dangerous concentrations of economic power ? In your answer , please address yourself to the following additional ques- tions : a . What are the dangers ? Please give specific examples , if available . b . Are similar ...
... potential for dangerous concentrations of economic power ? In your answer , please address yourself to the following additional ques- tions : a . What are the dangers ? Please give specific examples , if available . b . Are similar ...
Page 439
... potential conflict of interest created by ( i ) the combination of brokerage and money management or ( ii ) the combination of brokerage and market making justify the separation of these functions ? In your answer , please address ...
... potential conflict of interest created by ( i ) the combination of brokerage and money management or ( ii ) the combination of brokerage and market making justify the separation of these functions ? In your answer , please address ...
Page 445
... potential conflicts which might arise from serving as a broker to a trust account . The hazard of choosing between ... potentials for conflicts of interest and with the same " opportunity " to use transactions from the management of ...
... potential conflicts which might arise from serving as a broker to a trust account . The hazard of choosing between ... potentials for conflicts of interest and with the same " opportunity " to use transactions from the management of ...
Page 461
... potential conflict of interest created by ( i ) the combination of brokerage and money management or ( ii ) the combination of brokerage and market making justify the separation of these functions ? We do not believe that any basis has ...
... potential conflict of interest created by ( i ) the combination of brokerage and money management or ( ii ) the combination of brokerage and market making justify the separation of these functions ? We do not believe that any basis has ...
Page 462
... potential conflicts from these combinations of functions from having an adverse effect on public investors . At the same time , the Exchange's regulatory program is under continuous review to ensure that it retains maximum effectiveness ...
... potential conflicts from these combinations of functions from having an adverse effect on public investors . At the same time , the Exchange's regulatory program is under continuous review to ensure that it retains maximum effectiveness ...
Common terms and phrases
activities affiliated brokers American Stock Exchange Amex answer banks believe block broker-dealers brokerage and money brokerage business brokerage firms capital central market combination of brokerage competitive conflicts of interest control member firms corporation dealer discount economic power effect eliminated exchange markets exchange members exchange membership execution existing fiduciary firm's fixed commission rates floor individual investors institutional affiliates Institutional Investor Study institutional members institutional membership investment company limitation market makers market place market-making membership arrangements money management mutual fund national securities exchanges negotiated rates non-affiliated customers non-member number of exchange off-floor orderly orders parent participation percentage portfolio potential conflict primary purpose profit prohibited public interest public investors question questionnaire rebate rebative practices recapture regulation response rules securities business securities industry securities markets Senate serve the public sole specialist stockholders Subcommittee substantial third market tion types U.S. Senate York Stock Exchange
Popular passages
Page 884 - exchange" means any organization, association, or group of persons, whether incorporated or unincorporated, which constitutes, maintains, or provides a market place or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange as that term is generally understood., and includes the market place and the market facilities maintained by such exchange. (2) The term "facility...
Page 649 - S.249 before the Subcommittee on Securities of the Senate Committee on Banking, Housing and Urban Affairs, 94th Cong., 1st Sess., 1 (1975).
Page 695 - NRA, a member of the board of governors of the New York Stock Exchange, and the Investment Bankers Association of America.
Page 433 - affiliate' of, or a person 'affiliated' with, a specified person, is a person that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control with, the person specified. "(f) Control. The term 'control' (including the terms 'controlling,
Page 862 - ... any person directly or indirectly controlling, controlled by, or under common control with, such other person...
Page 456 - For the reasons hereinafter enumerated, transactions in securities as commonly conducted upon securities exchanges and over-the-counter markets are affected with a national public interest which makes it necessary to provide for regulation and control of such transactions and of practices and matters related thereto...
Page 756 - IN THE MATTER OF REGULATORY AND POLICY PROBLEMS PRESENTED BY THE INTERDEPENDENCE OF COMPUTER AND COMMUNICATION SERVICES AND FACILITIES — . DOCKET No.
Page 862 - ... a long or short position in an equity security and a long or short position in a security entitling the holder to acquire or sell such equity security, or any risk arbitrage transaction in connection with a merger, acquisition, tender offer, or similar transaction involving a recapitalization...
Page 459 - SEC, noting that complete segregation of functions ... as a specific remedy for all the multifarious possibilities for conflicts in the complex securities business could not be a simple segregation in any traditional sense but would have to involve fragmentation of the business to a point where...
Page 569 - Board, however, was in no mood for new members. It had become, in great measure, an exclusive club, a situation of which the brokers were very proud. They wore silk hats and swallowtail coats during business hours. It was a genteel business as well as a profitable one. The entry of young men was frowned on.