The SEC's small business initiatives: regulatory reform or shabby conduct?
Article Abstract:
The SEC has been criticized by the North American Securities Administration Assn and others for changes to securities laws intended to simplify capital creation by small businesses, but which may increase risks for inexperienced investors. The change under SEC Rule 504, adopted Jul 30, 1992, which would exempt offerings under $1 million from state registration, has been indicated as particularly troubling and state regulators may not create the necessary changes to state law. The changes also affect the Securities Exchange Act of 1934 and the Trust Indenture Act and represent genuine reforms for small business.
Publication Name: Securities Regulation Law Journal
Subject: Law
ISSN: 0097-9554
Year: 1993
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Short selling
Article Abstract:
Short selling is a process where a security is usually borrowed from a broker's account and sold in anticipation of a downturn where it may be repurchased at a profit. Short selling permits some market liquidity and induces pricing efficiency. However, the House Subcommittee on Government Operations is investigating the practice. There have been allegations of collusion between the SEC enforcement branch and some brokers who affect the market through rumor in order to profit from short sales. An overview of the practice, current regulation and the subcommittee's recommendations is presented.
Publication Name: Securities Regulation Law Journal
Subject: Law
ISSN: 0097-9554
Year: 1992
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The Feuerstein Report of investigation: supervisory responsibilities of legal and compliance officers of brokerage firms
Article Abstract:
The SEC Feuerstein Report, concerning the Salomon Brothers' former chief legal officer Donald M. Feuerstein, determined that legal and compliance officers are responsible to supervise if they are sufficiently influential in management decisions. The Report stated that Feuerstein was involved in the management decision concerning the false Treasury securities bids and therefore had supervisory responsibilities under the 1934 Securities Exchange Act, sections 15(b)(4)(E) and 15(b)(6).
Publication Name: Securities Regulation Law Journal
Subject: Law
ISSN: 0097-9554
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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