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 28
... respect to market- able securities acquired before the end of the owner's last fiscal quarter , the market value of such securities at the end of such fiscal quarter , and ( B ) with respect to other assets ( including other securities ) ...
... respect to market- able securities acquired before the end of the owner's last fiscal quarter , the market value of such securities at the end of such fiscal quarter , and ( B ) with respect to other assets ( including other securities ) ...
Page 30
... respect to securities listed or admitted to unlisted trading privileges on a national securities exchange ; and ( 3 ) who does not furnish advice or issue analyses or reports with respect to securities for which an over - the - counter ...
... respect to securities listed or admitted to unlisted trading privileges on a national securities exchange ; and ( 3 ) who does not furnish advice or issue analyses or reports with respect to securities for which an over - the - counter ...
Page 43
... respect to the nature , type , and amounts of investment which their managements may make . Management investment companies fall into two broad classes , the open - end and the closed - end type . The peculiarity of open - end companies ...
... respect to the nature , type , and amounts of investment which their managements may make . Management investment companies fall into two broad classes , the open - end and the closed - end type . The peculiarity of open - end companies ...
Page 46
... respect to the substantive provisions of this bill , I do not propose to discuss these in detail , but I do wish to make two or three general observations about them . In general , everyone seems to be pretty much agreed that the func ...
... respect to the substantive provisions of this bill , I do not propose to discuss these in detail , but I do wish to make two or three general observations about them . In general , everyone seems to be pretty much agreed that the func ...
Page 49
... respect to all these 394 invest- ment advisers that we found , for we were conscious of the limitation of our jurisdiction with respect to the scope of the investigation we could make . We felt we could only ask people who acted as ...
... respect to all these 394 invest- ment advisers that we found , for we were conscious of the limitation of our jurisdiction with respect to the scope of the investigation we could make . We felt we could only ask people who acted as ...
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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...