Trading in Unlisted Securities Upon Exchanges: Hearing Before the Committee on Banking and Currency, United States Senate, Seventy-fourth Congress, Second Session, on S. 4023, a Bill on Trading in Unlisted Securities Upon National Securities ExchangesU.S. Government Printing Office, 1936 - Securities |
From inside the book
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Page 1
... securities covered in our report . Prior to the Securities Exchange Act two types of securities were dealt in on the exchanges of this country . The first type was known as a listed security , listed because the issuer of such security ...
... securities covered in our report . Prior to the Securities Exchange Act two types of securities were dealt in on the exchanges of this country . The first type was known as a listed security , listed because the issuer of such security ...
Page 2
... of the issuer to furnish any report or to furnish any information about the security , either at the time or periodically . And so it is that I say , that was the situation prior to the passage of the Stock Exchange Act . Senator GLASS ...
... of the issuer to furnish any report or to furnish any information about the security , either at the time or periodically . And so it is that I say , that was the situation prior to the passage of the Stock Exchange Act . Senator GLASS ...
Page 3
... securities were put on exchanges which should never have been placed there at all . That was the situation faced at the time of the passage of the Securities Exchange Act . The passage of the Securi- ties Exchange Act was upon the ...
... securities were put on exchanges which should never have been placed there at all . That was the situation faced at the time of the passage of the Securities Exchange Act . The passage of the Securi- ties Exchange Act was upon the ...
Page 4
... Securities Exchange Act did was to say that this privilege should be denied to any more new securities , so that no new securities could be admitted pending this 2 - year period . Senator GORE . That is , on the New York Curb . Mr ...
... Securities Exchange Act did was to say that this privilege should be denied to any more new securities , so that no new securities could be admitted pending this 2 - year period . Senator GORE . That is , on the New York Curb . Mr ...
Page 7
... of the almost 2,000 issues of stocks and bonds now dealt in which would be thrown off exchanges as a result of going beyond June 1 , 1936 , without action by Con- gress . Senator GLASS . Have you prepared an amendment to the act to the ...
... of the almost 2,000 issues of stocks and bonds now dealt in which would be thrown off exchanges as a result of going beyond June 1 , 1936 , without action by Con- gress . Senator GLASS . Have you prepared an amendment to the act to the ...
Other editions - View all
Common terms and phrases
adequate admitted to unlisted amended bank stocks bill bonds Boston Stock Exchange buyers Chairman Commissioner Commissioner Landis committee Congress continue corporation counter deal Exchange Commission exchange market exchange trading extend unlisted trading February 24 half-listed hearing houses issue issuer KENDALL LANDIS legislation LOCKWOOD national securities exchange over-the over-the-counter business over-the-counter dealers over-the-counter market over-the-counter securities over-the-counter trading Philadelphia Stock Exchange PIZZINI problem proposed protection of investors public interest question quotations reference secondary market section 15 Securities Act Securities and Exchange Securities Exchange Act securities upon exchanges sell Senator ADAMS Senator BULKLEY Senator COUZENS Senator GLASS Senator GORE Senator MALONEY Senator WAGNER presiding shares smaller exchanges speculation statement the-counter thing tion trading in unlisted trading on exchanges transactions TROSTER type of security unlisted securities unlisted trading privileges York Curb Exchange York Stock Exchange
Popular passages
Page 39 - No broker or dealer shall make use of the mails or of any means or Instrumentality of interstate commerce to effect any transaction In, or to Induce the purchase or sale of, any security (other than commercial paper, bankers...
Page 39 - ... in contravention of such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors.
Page 28 - No provision of this title imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule or regulation of the Commission, 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 39 - ... from engaging in or continuing any conduct or practice in connection with any such activity, or in connection with the purchase or sale of any...
Page 37 - States the sum of $100 for each and every day of the continuance of such failure, which forfeiture shall be payable into the Treasury of the United States, and shall be recoverable in a civil suit in the name of the United States...
Page 27 - System shall, by such rules and regulations as it may deem necessary or appropriate in the public interest or for the protection of investors, exempt, either unconditionally or upon specified terms and conditions or for stated periods, from the operation of this subsection and the rules and regulations thereunder.
Page 27 - ... interest in the question of termination or suspension of such unlisted trading privileges, or on its own motion, the Commission shall by order terminate, or suspend for a period not exceeding twelve months, such unlisted trading privileges for such security if the Commission finds, after appropriate notice and opportunity for hearing, that...
Page 39 - Act, the Securities Act of 1933, or the Securities Exchange Act of 1934, if such statement is true in fact and if the effect of such registration is not misrepresented.
Page 38 - It shall be unlawful for any broker or dealer, directly or indirectly, to make use of the mails or of any means or instrumentality of interstate commerce...
Page 38 - ... the issuer and any person directly or indirectly controlling or controlled by, or under direct or indirect common control with...