Trust Indenture Act: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-sixth Congress, First Session, on S. 477, a Bill to Provide for the Regulation of the Sale of Certain Securities in Interstate and Foreign Commerce and Through the Mails, and the Regulation of the Trust Indentures Under which the Same are Issued, and for Other Purposes. February 7, 8, and 9, 1939 |
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Page 2
... reason of the disproportionate expense of taking such action , and ( B ) concerted action by such investors in their common interest through representatives of their own selection is impeded by reason of the wide disperson of such ...
... reason of the disproportionate expense of taking such action , and ( B ) concerted action by such investors in their common interest through representatives of their own selection is impeded by reason of the wide disperson of such ...
Page 4
... reason of the small amount involved and the small amount of securities out- standing and thereafter issuable under the same indenture , or by reason of the limited character of the public offering ; but no issue of securities shall be ...
... reason of the small amount involved and the small amount of securities out- standing and thereafter issuable under the same indenture , or by reason of the limited character of the public offering ; but no issue of securities shall be ...
Page 15
... reason . " HEARINGS BY COMMISSION " SEC . 317. Hearings may be public and may be held before the Commission , any member or members thereof , or any officer or officers of the Commission designated by it , and appropriate records ...
... reason . " HEARINGS BY COMMISSION " SEC . 317. Hearings may be public and may be held before the Commission , any member or members thereof , or any officer or officers of the Commission designated by it , and appropriate records ...
Page 18
... reasons for the proposed legislation ? Commissioner EICHER . I expect to cover that as I proceed to make my statement , and I expect to do that as briefly as I can , consistently with giving a fair background . First , before I proceed ...
... reasons for the proposed legislation ? Commissioner EICHER . I expect to cover that as I proceed to make my statement , and I expect to do that as briefly as I can , consistently with giving a fair background . First , before I proceed ...
Page 20
... reason for this exception can best be illustrated by an example . If , as is not uncommon practice in the case of real - estate mortgages , the mortgagor executes an ordinary bond and mortgage to a trust company , receiving in exchange ...
... reason for this exception can best be illustrated by an example . If , as is not uncommon practice in the case of real - estate mortgages , the mortgagor executes an ordinary bond and mortgage to a trust company , receiving in exchange ...
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Common terms and phrases
abuses action AMBERG amendment American Bankers Association authority Banking and Currency bankruptcy Barkley bill bondholders borrower BURKE CANRIGHT CHAIRMAN Chicago Commissioner EICHER conflicting interest Congress contain provisions corporate trustee denture duties effect Exchange Commission exempted exercise Federal Reserve Federal Reserve System fiduciary filed financing going HANES hearings inden indenture security holders indenture trustee institutions interest of investors Investment Bankers issuer judgment legislation liability matter MITCHUM National Bank necessary negligence notice of default obligations obligor outstanding paragraph percent person principal amount prior to default proposed protection of investors prudent public interest question reason reference registration respect responsibility ROBERT F rules and regulations section 312 Securities Act Securities and Exchange securities issued Senator BARKLEY Senator HUGHES Senator MALONEY Senator TAFT STARKWEATHER statement subsection SULLIVAN thereof thereunder thing tion trust company trust indentures underwriter United States Senate voting securities
Popular passages
Page 15 - System, notwithstanding that such rule or regulation may, after such act or omission, be amended or rescinded or be determined by judicial or other authority to be invalid for any reason.
Page 6 - If it appears to the Commission at any time that the registration statement includes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading...
Page 17 - Commission under authority thereof, or any person who willfully, in a registration statement filed under this title, makes any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading, shall upon conviction be fined not more than $10,000 or imprisoned not more than five years, or both.
Page 17 - If any provision of this Act, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Act, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.
Page 5 - ... (2) to carry or cause to be carried through the mails or in interstate commerce, by any means or instruments of transportation, any such security for the purpose of sale or for delivery after sale.
Page 15 - The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation...
Page 5 - The Information contained In or filed with any registration statement shall be made available to the public under such regulations as the Commission may prescribe...
Page 3 - underwriter" means any person who has purchased from an issuer with a view to, or offers or sells for an issuer in connection with, the distribution of any security, or participates or has a direct or indirect participation in any such undertaking, or participates or has a participation in the direct or indirect underwriting of any such undertaking...
Page 4 - ... if it finds that the enforcement of this title with respect to such securities is not necessary in the public interest and for the protection of investors...
Page 5 - ... shall not be deemed to have taken place unless it is accompanied by a United States postal money order or a certified bank check or cash for the amount of the fee required under subsection (b).