Financial institutions (51 - 60 of 97 items)
Foreign Bank-Owned Securities Firms
GGD-95-174R: Published: Jun 6, 1995. Publicly Released: Jun 6, 1995.
Pursuant to a congressional request, GAO provided information on the current supervisory structure for foreign banks that own U.S broker-dealers, focusing on: (1) how the structure might change as a result of proposed legislation; and (2) whether the acquisition of a broker-dealer by a foreign entity would impede U.S. regulators' ability to supervise the acquired firm. GAO noted that: (1) foreign...
Financial Market Regulation: Benefits and Risks of Merging SEC and CFTC
T-GGD-95-153: Published: May 3, 1995. Publicly Released: May 3, 1995.
GAO discussed the proposed Markets and Trading Reorganization and Reform Act, focusing on: (1) the merger of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC); and (2) whether the potential benefits of the merger outweigh the potential risks. GAO noted that: (1) the benefits of merging SEC and CFTC include reduced regulatory uncertainty, which would e...
Financial Regulation: Modernization of the Financial Services Regulatory System
T-GGD-95-121: Published: Mar 15, 1995. Publicly Released: Mar 15, 1995.
GAO discussed the modernization of the financial services regulatory system. GAO noted that: (1) although the banking industry appears to have recovered from its recent crisis, it is premature to assume that fundamental concerns about risk management and regulatory supervision have been resolved; (2) while the regulatory system has adapted to the financial industry's movements on an ad hoc basis,...
Bank Regulatory Structure: The United Kingdom
GGD-95-38: Published: Dec 29, 1994. Publicly Released: Jan 31, 1995.
Pursuant to a congressional request, GAO reviewed the structure and operations of the Bank of England, the United Kingdom's banking regulatory agency.GAO found that: (1) the Bank is recognized as the primary regulator and sole supervisor of authorized banks in the United Kingdom; (2) the Bank's primary purpose is to protect the interests of depositors; (3) the Bank has the authority to examine and...
GSEs: Implications of Removing State and Local Tax Exemption
T-GGD-94-182: Published: Jul 14, 1994. Publicly Released: Jul 14, 1994.
Pursuant to a congressional request, GAO discussed the: (1) basis for exempting government-sponsored enterprises (GSE) from state and local taxation; and (2) implications of removing the exemption. GAO noted that: (1) the Supreme Court has held that federally chartered and supervised corporations are exempt from local and state taxation under the Constitution's supremacy clause except where Congre...
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...
Government-Sponsored Enterprises: Changes in Securities Distribution Process and Use of Derivative Products
GGD-93-70BR: Published: Mar 16, 1993. Publicly Released: Mar 16, 1993.
Pursuant to a congressional request, GAO examined changes in the distribution of government-sponsored enterprise (GSE) debt securities and the use of GSE derivative products that are formed from GSE securities.GAO found that: (1) agreements between GSE and securities dealers have been revised to ensure accurate reporting and improve allocation procedures by clarifying responsibilities and improvin...
Investment Advisers: Oversight Is Inadequate for Investor Protection
T-GGD-92-46: Published: Jun 4, 1992. Publicly Released: Jun 4, 1992.
GAO discussed the Securities and Exchange Commission's (SEC) regulation of investment advisers. GAO noted that: (1) SEC requires investment advisers to register and approves completed applications if it does not find any disqualifying securities violations in its files, but does not prescribe professional qualifications for advisers, verify applicants' education and business backgrounds, or have p...
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...