Securities (91 - 100 of 328 items)
Financial Services Regulators: Better Information Sharing Could Reduce Fraud
GAO-01-478T: Published: Mar 6, 2001. Publicly Released: Mar 6, 2001.
The sharing of regulatory and criminal history data among financial services regulators can reduce fraudulent activities. GAO recently reported on several instances in which unscrupulous brokers moved from one financial industry to another. This testimony focuses on (1) systems used by financial regulators for tracking regulatory history data, (2) regulatory history data needed to help prevent ro...
Securities Pricing: Trading Volumes and NASD System Limitations Led to Decimal-Trading Delay
GGD/AIMD-00-319: Published: Sep 20, 2000. Publicly Released: Oct 24, 2000.
Pursuant to a congressional request, GAO examined the progress that the securities industry has made toward the implementation of decimal pricing for U.S. stocks, focusing on: (1) what were the specific reasons that the Nasdaq market was not ready for the July 3, 2000, implementation date and how the National Association of Securities Dealers', Inc. (NASD) decimal-trading preparations compared wit...
Securities and Exchange Commission: Unlisted Trading Privileges
OGC-00-66: Published: Sep 19, 2000. Publicly Released: Sep 19, 2000.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on unlisted trading privileges. GAO noted that: (1) under the rule, a national securities exchange extending unlisted trading privileges to an initial public offering (IPO) listed on another exchange will no longer be required to wait until the day after trading has commenced on the listing...
Expenditures and Revenues of State Securities Regulatory Agencies
GGD-00-189R: Published: Aug 15, 2000. Publicly Released: Sep 13, 2000.
Pursuant to a congressional request, GAO provided information on expenditures and revenues of state securities regulatory agencies for fiscal years 1998 and 1999, focusing on: (1) the expenditures and revenues of state securities regulatory agencies; and (2) quantifying the revenues of state securities agencies by types of activity.GAO noted that: (1) GAO securities markets operate under a dual sy...
Securities and Exchange Commission: Selective Disclosure and Insider Trading
OGC-00-61: Published: Sep 7, 2000. Publicly Released: Sep 7, 2000.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on selective disclosure and insider trading. GAO noted that: the new rule would address three issues: (a) the selective disclosure by various issuers of material nonpublic information; (b) when insider trading liability arises in connection with a trader's "use" or "knowing possession" of ma...
Securities Arbitration: Actions Needed to Address Problem of Unpaid Awards
GGD-00-115: Published: Jun 15, 2000. Publicly Released: Jun 26, 2000.
Pursuant to a congressional request, GAO provided information on issues relating to the arbitration process in the securities industry, focusing on: (1) whether arbitration forums had implemented recommendations made in GAO's 1992 report and whether the changes were effective; (2) how investors fared in award decisions; and (3) the extent to which investors were paid the amounts awarded by arbitra...
Banking Taxation: Implications of Proposed Revisions Governing S-Corporations on Community Banks
GGD-00-159: Published: Jun 23, 2000. Publicly Released: Jun 23, 2000.
Pursuant to a legislative requirement, GAO: (1) analyzed possible revisions to the tax rules governing S-corporations; and (2) determined the potential impact such revisions might have, primarily on community banks.GAO noted that: (1) GAO studied five possible revisions to the tax rules governing S-corporations; (2) the proposed provisions were written to address perceived obstacles to becoming S-...
Financial Audit: Federal Deposit Insurance Corporation's 1999 and 1998 Financial Statements
AIMD-00-157: Published: May 26, 2000. Publicly Released: May 26, 2000.
Pursuant to a legislative requirement, GAO reviewed the financial statements of the Bank Insurance Fund, the Savings Association Insurance Fund, and the Federal Savings and Loan Insurance Corporation Resolution Fund for the years ended December 31, 1999 and 1998. GAO also reviewed: (1) the Federal Deposit Insurance Corporation (FDIC) management's assertions regarding the effectiveness of its inter...
Securities Pricing: Progress and Challenges in Converting to Decimals
T-GGD-00-96: Published: Mar 1, 2000. Publicly Released: Mar 1, 2000.
Pursuant to a congressional request, GAO discussed its recent reports on the securities industry's progress toward implementing decimal trading, focusing on the: (1) progress made to date toward converting to decimals; and (2) challenges that remain.GAO noted that: (1) although securities market participants have made progress in preparing for decimal trading, some key challenges remain for the in...
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...