Securities (21 - 30 of 43 items)
Securities Operations: Day Trading Requires Continued Oversight
GGD-00-61: Published: Feb 24, 2000. Publicly Released: Feb 24, 2000.
Pursuant to a congressional request, GAO reviewed day trading, focusing on: (1) the nature and extent of day trading; (2) regulatory actions taken to address the day trading risks; and (3) the actions day trading firms have taken to address regulatory concerns.GAO noted that: (1) day trading among less experienced investors is an evolving segment of the securities industry; (2) day traders, who re...
Long-Term Capital Management: Regulators Need to Focus Greater Attention on Systemic Risk
GGD-00-3: Published: Oct 29, 1999. Publicly Released: Nov 19, 1999.
Pursuant to a congressional request, GAO provided information on Long Term Capital Management (LTCM) funds, focusing on: (1) how LTCM's positions became large and leveraged enough to be deemed a potential systemic threat; (2) what federal regulators knew about LTCM and when they found out about its problems; (3) what the extent of coordination among regulators was; and (4) whether regulatory autho...
Financial Services Institutions: Information for Assessing the Government's Potential Financial Exposure
GGD-98-125: Published: Jun 15, 1998. Publicly Released: Jul 15, 1998.
Pursuant to a congressional request, GAO provided information on selected financial services institutions, focusing on: (1) the potential financial exposure faced by the federal government as a result of financial services institutions sponsored, in whole or in part, by the federal government; (2) the institutions sponsored, in whole or in part, by the federal government or corporations within the...
Financial Regulation: Bank Modernization Legislation
T-OCE/GGD-97-103: Published: May 7, 1997. Publicly Released: May 7, 1997.
GAO discussed the modernization of the U.S. financial services regulatory system.GAO noted that: (1) the laws governing the financial services industry and the regulatory structure that oversees it were developed for an industry compartmentalized into commercial banking, investment banking, and insurance; (2) in recent decades, however, these activities have converged to where many financial produ...
Banks' Securities Activities: Oversight Differs Depending on Activity and Regulator
GGD-95-214: Published: Sep 21, 1995. Publicly Released: Sep 26, 1995.
Pursuant to a congressional request, GAO reviewed federal bank regulators' oversight of banks' securities activities, focusing on the: (1) extent to which banks provide securities brokerage services; (2) how those services are regulated; (3) results of Federal Reserve inspections of bank holding company subsidiaries authorized to underwrite and deal in securities; and (4) Federal Deposit Insurance...
Limited Partnership Rollups
GGD-95-180R: Published: Aug 3, 1995. Publicly Released: Aug 3, 1995.
Pursuant to a legislative requirement, GAO reviewed the use of fairness opinions in limited partnership rollups. GAO noted that it did not have a sufficient basis to submit any conclusions on the use of fairness opinions, since only one fairness opinion and five rollups in total were filed since the legislation was enacted...
Financial Derivatives: Actions Needed to Protect the Financial System
T-GGD-94-170: Published: Jun 23, 1994. Publicly Released: Jun 23, 1994.
GAO discussed federal oversight of derivatives activities. GAO noted that: (1) most of the over-the-counter derivatives activity in the United States is concentrated among 15 major U.S. dealers who are extensively linked with each other, end-users, and exchange-traded markets; (2) these dealers' sudden failure or abrupt withdrawal from trading could cause significant problems and prompt the federa...
Securities and Exchange Commission: Delays in Processing Time-Sensitive Stock Filings
GGD-93-130: Published: Aug 18, 1993. Publicly Released: Aug 18, 1993.
Pursuant to a congressional request, GAO reviewed the Securities and Exchange Commission's (SEC) processing of time-sensitive securities market information.GAO found that: (1) SEC discloses time-sensitive securities information to the public within 1 business day after it receives the filings; (2) SEC took 2 or more business days to process about 16 percent of the filings it received by mail durin...
Securities Firms: Assessing the Need to Regulate Additional Financial Activities
GGD-92-70: Published: Apr 21, 1992. Publicly Released: Apr 21, 1992.
GAO reviewed: (1) the organization and regulatory structure of large U.S. securities firms; (2) whether regulatory gaps exist that might affect U.S. investors and the financial system; and (3) the regulation of those firms compared to different regulatory approaches for bank holding companies and foreign securities firms.GAO found that: (1) during the 1980s, the U.S. securities business became con...
Depository Institutions: Contracting Practices With Data Processing Servicers
GGD-92-19: Published: Feb 5, 1992. Publicly Released: Feb 5, 1992.
Pursuant to a legislative requirement, GAO provided information on the extent to which data processing servicers engaged in other services with depository institutions.GAO found that: (1) of 150 data processing servicers reviewed, 51 vendors reported engaging in other business relationships with banks in addition to data processing services, and 16 vendors reported engaging in such relationship wi...