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 Exchanges, February 11, 1936U.S. Government Printing Office, 1936 - Securities |
From inside the book
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Page 4
... proposed legislation is to take care of stocks already admitted to trading on the Curb , for instance . Mr. LANDIS . The purpose of our report is to suggest to Congress what might be the desirable thing to do after that 2 - year period ...
... proposed legislation is to take care of stocks already admitted to trading on the Curb , for instance . Mr. LANDIS . The purpose of our report is to suggest to Congress what might be the desirable thing to do after that 2 - year period ...
Page 5
... proposed legis- lation ? Mr. LANDIS . Yes . That is involved here because such stock for the purpose of the Philadelphia Exchange is an unlisted security , while in the case of the New York Exchange it is a listed security . Senator ...
... proposed legis- lation ? Mr. LANDIS . Yes . That is involved here because such stock for the purpose of the Philadelphia Exchange is an unlisted security , while in the case of the New York Exchange it is a listed security . Senator ...
Page 7
... propose that we shall do in the matter of extending this privilege . What discretion does your Com- mission want ? Mr. LANDIS . Our proposals are with reference strictly to the un- listed problems , and are two in character : In the ...
... propose that we shall do in the matter of extending this privilege . What discretion does your Com- mission want ? Mr. LANDIS . Our proposals are with reference strictly to the un- listed problems , and are two in character : In the ...
Page 10
... proposed legislation ? Mr. LANDIS . If we are to have adequate control of securities , effec- tive jurisdiction over the over - the - counter markets must be afforded . For example , if we want adequate information about a certain se ...
... proposed legislation ? Mr. LANDIS . If we are to have adequate control of securities , effec- tive jurisdiction over the over - the - counter markets must be afforded . For example , if we want adequate information about a certain se ...
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... proposed legislation that you are speak- ing of has not been introduced as yet in the form of a bill ? Mr. LANDIS . No ; it has not . But we have drafts ready , and will be glad to present them if the committee wishes us to do so ...
... proposed legislation that you are speak- ing of has not been introduced as yet in the form of a bill ? Mr. LANDIS . No ; it has not . But we have drafts ready , and will be glad to present them if the committee wishes us to do so ...
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Common terms and phrases
adequate admitted to unlisted amended bank stocks BANKING AND CURRENCY bill bonds Boston Stock Exchange buyers Chairman Commissioner Commissioner Landis 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 18 - No broker or dealer (other than one whose business is exclusively intrastate) 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 an exempted security or commercial paper, bankers...
Page 19 - ... 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 12 - 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 19 - ... 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 17 - 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 11 - 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 11 - ... 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 19 - 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 18 - ... the issuer and any person directly or indirectly controlling or controlled by, or under direct or indirect common control with...
Page 18 - Commission or within such shorter period of time as the Commission may determine.