Securities (121 - 130 of 328 items)
Government-Sponsored Enterprises: Federal Oversight Needed for Nonmortgage Investments
GGD-98-48: Published: Mar 11, 1998. Publicly Released: Mar 25, 1998.
Pursuant to a congressional request, GAO reviewed the nonmortgage investment activities at 3 government-sponsored enterprises (GSEs)--the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal National Mortgage Association (Fannie Mae), and the Federal Agricultural Mortgage Corporation (Farmer Mac)--focusing on the: (1) enterprises' legal authority for making nonmortgage investments and...
SEC Year 2000 Report: Future Reports Could Provide More Detailed Information
GGD/AIMD-98-51: Published: Mar 6, 1998. Publicly Released: Mar 17, 1998.
Pursuant to a congressional request, GAO reviewed the Securities and Exchange Commission's (SEC) report on the status of its efforts to ensure that its computer systems, as well as those used by participants in the securities industry, are ready for the date changeover in the year 2000, focusing on: (1) SEC's June 1997 report on the status of year 2000 compliance by SEC, the securities industry, a...
SEC: Offshore Offers and Sales
OGC-98-33: Published: Mar 11, 1998. Publicly Released: Mar 11, 1998.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule governing offshore offers and sales. GAO noted that: (1) the new rule would amend the Regulation S to address fraudulent and manipulative practices that have developed, particularly with respect to thinly capitalized companies; and (2) SEC complied with all applicable requirements in promulg...
Securities Regulation: Oversight of SRO's Listing Procedures Could Be Improved
GGD-98-45: Published: Feb 6, 1998. Publicly Released: Feb 17, 1998.
Pursuant to a congressional request, GAO reviewed the National Association of Securities Dealers' (NASD) automated quotation (NASDAQ) SmallCap Stock Market and the events surrounding the listing of Comparator Systems Corporation stock.GAO noted that: (1) the Securities Exchange Commission (SEC) has taken actions to meet its oversight responsibilities with respect to the NASDAQ Stock Market Listing...
SEC: Technical Revisions to the Rules and Forms Regulating Money Market Funds
OGC-98-20: Published: Dec 18, 1997. Publicly Released: Dec 18, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on revisions to the rules and forms regulating money market funds. GAO noted that: (1) the rule would revise terminology used in rule 2a-7 under the Investment Company Act of 1940 to reflect common market usage and resolve certain interpretative issues; and (2) SEC complied with applicable r...
OTC Derivatives: Additional Oversight Could Reduce Costly Sales Practice Disputes
GGD-98-5: Published: Oct 2, 1997. Publicly Released: Oct 9, 1997.
Pursuant to a congressional request, GAO reviewed the sales practices for over-the-counter (OTC) derivatives, mortgage-backed securities (MBS), and structured notes, focusing on the: (1) federal sales practice requirements applicable to these products and the dealers marketing them; (2) extent of end-user satisfaction with sales practice, product use, and related disputes and the costs of these di...
SEC: Exemption for the Acquisition of Securities During the Existence of An Underwriting or Selling Syndicate
OGC-97-57: Published: Aug 20, 1997. Publicly Released: Aug 20, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on the exemption for the acquisition of securities during the existence of an underwriting or selling syndicate. GAO noted that: (1) the rule would amend rule 10f-3 and permit registered investment companies that have certain affiliated relationships with an underwriter to purchase a greater...
Banking and Commerce
OCE-97-3R: Published: Jun 10, 1997. Publicly Released: Jun 10, 1997.
Pursuant to a congressional request, GAO responded to questions concerning the issue of mixing banking and commerce.GAO noted that: (1) it found no mention of any economic efficiencies that are unique to maintaining the separation of banking and commerce; (2) however, GAO found frequent references in the literature to the likelihood that maintaining the existing separation could be beneficial beca...
Securities and Exchange Commission: Rules Implementing Amendments to the Investment Advisers Act of 1940 (Rule 203A-2)
OGC-97-46: Published: Jun 2, 1997. Publicly Released: Jun 2, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on the implementation of amendments to the Investment Advisers Act of 1940 (Rule 203A-2). GAO noted that: (1) the final rule would exempt four types of advisers from the prohibition on SEC registration, which include: (a) certain pension consultants; (b) nationally recognized statistical rat...
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...