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 1
... Representatives of the United States of America in Congress assembled , That the Act entitled " An Act to provide full and fair disclosure of the character of securities sold in interstate and foreign commerce through the mails , and to ...
... Representatives of the United States of America in Congress assembled , That the Act entitled " An Act to provide full and fair disclosure of the character of securities sold in interstate and foreign commerce through the mails , and to ...
Page 2
... representatives of their own selection is impeded by reason of the wide disperson of such investors through many States , and by reason of the fact that information as to the names and addresses of such investors generally is not ...
... representatives of their own selection is impeded by reason of the wide disperson of such investors through many States , and by reason of the fact that information as to the names and addresses of such investors generally is not ...
Page 7
... or any of its directors or executive officers is a director , officer , partner , employee , appointee or representative of an obligor , or of an underwriter ( other than the trustee itself ) who is TRUST INDENTURE ACT 7.
... or any of its directors or executive officers is a director , officer , partner , employee , appointee or representative of an obligor , or of an underwriter ( other than the trustee itself ) who is TRUST INDENTURE ACT 7.
Page 9
... representative capacity . " For the purposes of this subsection , the term ' underwriter ' means every per- son who , within four years prior to the time as of which the determination is made , was an underwriter of any security of an ...
... representative capacity . " For the purposes of this subsection , the term ' underwriter ' means every per- son who , within four years prior to the time as of which the determination is made , was an underwriter of any security of an ...
Page 25
... representative of an obligor , or of an underwriter who is currently engaged in the business of underwriting . This paragraph , however , permits , in common parlance , one director or executive officer " each way " between the trustee ...
... representative of an obligor , or of an underwriter who is currently engaged in the business of underwriting . This paragraph , however , permits , in common parlance , one director or executive officer " each way " between the trustee ...
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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).