Regulation of Sale of Securities: Hearing[s] Before a Subcommittee of the Committee on Banking and Currency, United States Senate, Seventy-fifth Congress, First Session, on S. 2344, a Bill to Provide for the Regulation of the Sale of Certain Securities in Interstate and Foreign Commerce, and the Trust Indentures Under which the Same are Issued, and for Other Purposes. June 9, 15, 22, and 29, 1937 |
From inside the book
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Page 2
... become persistent and widespread , the public offering of such securities , unless regulated , is injurious to the capital markets , to investors , and to the general public , and is tantamount to a fraud on such investors and the ...
... become persistent and widespread , the public offering of such securities , unless regulated , is injurious to the capital markets , to investors , and to the general public , and is tantamount to a fraud on such investors and the ...
Page 4
... become effective unless such security has been or is to be issued under an indenture as to which an applica- tion for qualification is effective . APPLICATIONS FOR QUALIFICATION AND THE TAKING EFFECT THEREOF SEC . 5. ( a ) An ...
... become effective unless such security has been or is to be issued under an indenture as to which an applica- tion for qualification is effective . APPLICATIONS FOR QUALIFICATION AND THE TAKING EFFECT THEREOF SEC . 5. ( a ) An ...
Page 5
... become effective . If an order to show cause under this subsection has been issued , such application shall become effective within such reasonable period of time after an opportunity for hearing upon such order as the Commission shall ...
... become effective . If an order to show cause under this subsection has been issued , such application shall become effective within such reasonable period of time after an opportunity for hearing upon such order as the Commission shall ...
Page 6
... become effective at the date fixed pursuant to subsection ( c ) of section 5 or upon the date of such rescission , whichever shall be the later . CONTENTS OF INDENTURE Persons Eligible for Appointment as Trustee SEC . 7. ( a ) ( 1 ) The ...
... become effective at the date fixed pursuant to subsection ( c ) of section 5 or upon the date of such rescission , whichever shall be the later . CONTENTS OF INDENTURE Persons Eligible for Appointment as Trustee SEC . 7. ( a ) ( 1 ) The ...
Page 7
... become a creditor , directly or indirectly , secured or unsecured , of an obligor , except as authorized pursuant to sub- section ( d ) of this section , if the indenture to be qualified is not secured by the pledge or mortgage of ...
... become a creditor , directly or indirectly , secured or unsecured , of an obligor , except as authorized pursuant to sub- section ( d ) of this section , if the indenture to be qualified is not secured by the pledge or mortgage of ...
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Common terms and phrases
act as trustee action adequate Alben W amendment American Bankers Association application bank Bankers Barkley bill bondholders bonds BUTTENWIESER CANRIGHT centum CHAIRMAN clause collateral Commission deems Commissioner DOUGLAS committee print conflict of interest conflicting interest corporate trustees court creditor debenture director duties enforcement Exchange Commission exemption exercise Federal Reserve System filed inden indenture security holders indenture trustee interest or participation interests of investors investment issuer legislation liability loans mortgage necessary or appropriate negative pledge negligence obligations obligor paragraph paying agent payment permitted person POSNER prescribe prior to default prospective trustee protection of investors public interest qualified shall contain reasonable reorganization Report respect responsible rules and regulations Securities Act Securities and Exchange securities issued Senator BARKLEY Senator HUGHES Senator TOWNSEND situation statement subsection substitution term thereof thereunder tion trust companies trust indenture trustee's trusteeship underwriter UNTERMYER voting securities
Popular passages
Page 86 - Act of 1933. (b) The Treasury Department, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Reserve Banks, and the Federal Deposit Insurance Corporation...
Page 13 - 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 14 - 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 11 - Such information, in such detail, as to the issuer and any person directly or indirectly controlling or controlled by, or under direct or indirect common control with...
Page 209 - Commission deems relevant or material to the inquiry. Such attendance of witnesses and the production of any such records may be required from any place in the United States or any State at any designated place of hearing.
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 197 - 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 200 - 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 15 - If any provision of this Act or the application of such provision to any person or circumstance shall be held invalid, the remainder of the Act and 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 4 - The Commission may from time to time by its rules and regulations and subject to such terms and conditions as may be prescribed therein...