Investment Trusts and Investment Companies: Hearings Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-sixth Congress, Third Session, on S. 3580, a Bill to Provide for the Registration and Regulation of Investment Companies and Investment Advisers, and for Other Purposes. April 2, 3, 4, 5, 8, 9, and 10, 1940, Part 3 |
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Page 31
... funds and accounts ; and ( E ) the basis or bases upon which such investment adviser , his or its partners ... funds or any portion of the funds of the client ; or ( 2 ) fails to provide , in substance , that no assignment of such ...
... funds and accounts ; and ( E ) the basis or bases upon which such investment adviser , his or its partners ... funds or any portion of the funds of the client ; or ( 2 ) fails to provide , in substance , that no assignment of such ...
Page 38
... funds without the necessity of substantial investment of their own funds , the charters of many of these companies have been so drawn to allow the insiders to deal as principal with these trusts and companies and contain the broadest ...
... funds without the necessity of substantial investment of their own funds , the charters of many of these companies have been so drawn to allow the insiders to deal as principal with these trusts and companies and contain the broadest ...
Page 50
... funds . Now , it is true that substantial parts of these funds are funds of banks and insurance companies . However , if you will take a look at pages 8 and 9 of the report , you will see that with respect to 49 of these firms , as far ...
... funds . Now , it is true that substantial parts of these funds are funds of banks and insurance companies . However , if you will take a look at pages 8 and 9 of the report , you will see that with respect to 49 of these firms , as far ...
Page 62
... Fund , 2d , which had a portfolio of about $ 4,000,000 . The securities were deposited with a trust company in Jersey City , I think the Commercial Trust Co. but I am trying not to mention names as I do not think there is anything to be ...
... Fund , 2d , which had a portfolio of about $ 4,000,000 . The securities were deposited with a trust company in Jersey City , I think the Commercial Trust Co. but I am trying not to mention names as I do not think there is anything to be ...
Page 122
... funds . After they organized one , two , three , four , five , six and seven com- panies , and had interests in other companies , they wanted to solidify their control of this $ 500,000,000 . What did they do ? They organ- ized United ...
... funds . After they organized one , two , three , four , five , six and seven com- panies , and had interests in other companies , they wanted to solidify their control of this $ 500,000,000 . What did they do ? They organ- ized United ...
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abuses affiliated person amount asset value bank believe bill board of directors bonds broker Byllesby capital certificate clients committee common stock contract dividends effect Exchange Commission existing face-amount certificate company fact firm Founders funds Goldman Sachs hearings holding company industry interest investment adviser investment banker investment counsel investment trust issue issuer Judge Healy legislation Massachusetts Investors Trust matter ment company officers open-end companies operation organized outstanding panies percent portfolio practice preferred stock present problem profits prohibition provision purchase question registered investment company rules and regulations SCHENKER Securities Act Securities and Exchange security holders sell Senator HUGHES Senator TAFT Senator WAGNER chairman senior securities shareholders shares situation sold Standard stockholders subcommittee thing tion transactions underwriting unit investment trust voting trust York Stock Exchange
Popular passages
Page 24 - 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 thereof shall be kept.
Page 24 - 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 32 - ... (2) to obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in...
Page 643 - director " means any director of a corporation or any person performing similar functions with respect to any organization, whether incorporated or unincorporated.
Page 109 - ... as to make it necessary or appropriate in the public interest or for the protection of investors or consumers that the applicant be subject to the obligations, duties, and liabilities imposed in this title upon subsidiary companies of holding companies.
Page 109 - Public-utility company" means an electric utility company or a gas utility company. (6) "Commission" means the Securities and Exchange Commission. (7) "Holding company" means— (A) any company which directly or indirectly owns, controls, or holds with power to vote...
Page 31 - ... (1) any person who within ten years has been convicted of any felony or misdemeanor involving the purchase or sale of any security or arising out of such person's conduct as an underwriter, broker, dealer, or investment adviser...
Page 25 - ... and any failure to obey such order of the court may be punished by such court as a contempt thereof. All process in any such case may be served in the judicial district whereof such person is an inhabitant or wherever he may be found.
Page 25 - Commissioner, on the ground that the testimony or evidence (documentary or otherwise) required of him may tend to incriminate him or subject him to a penalty or forfeiture...
Page 244 - No provision of this title imposing any liability shall apply to any act done or omitted in good faith in conformity with any rule, regulation, or...