Stock exchanges (21 - 30 of 46 items)
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...
Securities and Exchange Commission: Privately Offered Investment Companies
OGC-97-37: Published: Apr 24, 1997. Publicly Released: Apr 24, 1997.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rules on privately offered investment companies. GAO noted that: (1) the rules would provide definitions necessary to effectuate the applicable provisions of the National Securities Markets Improvement Act of 1996 as they apply to privately offered investment companies; (2) the rules would also p...
SEC: Limit Order Display Rule and Amendments to Quote Rule
OGC-96-43: Published: Sep 26, 1996. Publicly Released: Sep 26, 1996.
Pursuant to a legislative requirement, GAO reviewed two rules promulgated by the Securities and Exchange Commission (SEC). GAO noted that SEC: (1) believes that the Limit Order Display Rule will provide investors with improved execution opportunities and improved access to best prices when they buy or sell securities; (2) believes that amendments to the Quote Rule will ensure that all investors ar...
American Stock Exchange: More Changes Needed in Screening Emerging Companies for the Marketplace
GGD-94-72: Published: May 25, 1994. Publicly Released: May 31, 1994.
Pursuant to a congressional request, GAO provided information on the American Stock Exchange's (Amex) Emerging Companies Marketplace, focusing on how Amex: (1) assesses the reputation of the management and stockholders of companies seeking a Marketplace listing; and (2) ensures that Marketplace companies meet all required criteria for approval.GAO found that: (1) Amex developed the Marketplace lis...
Futures Markets: A Futures Transaction Fee Is Administratively Feasible
GGD-94-40: Published: Oct 28, 1993. Publicly Released: Oct 28, 1993.
Pursuant to a legislative requirement, GAO reviewed the feasibility of implementing a futures transaction fee to fund additional Commodity Futures Trading Commission (CFTC) enforcement and market surveillance activities, focusing on whether the fee will provide CFTC with additional resources to oversee the futures markets.GAO found that: (1) a futures transaction fee is administratively feasible;...
Securities Markets: SEC Actions Needed to Address Market Fragmentation Issues
T-GGD-93-35: Published: Jun 29, 1993. Publicly Released: Jun 29, 1993.
Pursuant to a congressional request, GAO discussed securities market fragmentation and its effects upon stock prices and market efficiency. GAO noted that: (1) although the New York Stock Exchange (NYSE) remains the predominant market center for trading of NYSE-listed stocks, its dominance is being challenged; (2) between 1980 and 1992, NYSE share volume declined 6 percent, and its share of trades...
Penny Stocks: Regulatory Actions to Reduce Potential for Fraud and Abuse
GGD-93-59: Published: Feb 3, 1993. Publicly Released: Feb 3, 1993.
GAO reviewed the National Association of Securities Dealers' (NASD) efforts to reduce fraud and abuse in the penny stock market, focusing on: (1) increased NASD market regulation; (2) NASD implementation of new information collection and dissemination systems; (3) NASD coordination of enforcement activities with other federal and state authorities; and (4) penny stock brokers' sales practices.GAO...
Securities Markets: Challenges to Harmonizing International Capital Standards Remain
GGD-92-41: Published: Mar 10, 1992. Publicly Released: Mar 10, 1992.
GAO reported on international efforts to harmonize capital standards for securities firms and for banks' securities activities, focusing on the implications of those harmonization efforts for U.S. capital standards.GAO found that: (1) securities market regulators in such major markets as Japan, the United States, and the United Kingdom generally support efforts to harmonize capital standards; (2)...
Stock Markets: Information Vendors Need SEC Oversight to Control Automation Risks
IMTEC-92-16: Published: Jan 29, 1992. Publicly Released: Jan 29, 1992.
GAO reviewed the: (1) adequacy of controls in place to protect against automation risks at seven information dissemination vendors that transmit stock data to investors; and (2) Securities and Exchange Commission's (SEC) involvement in assessing such operations.GAO found that: (1) all seven information dissemination vendors' computer facilities were unnecessarily vulnerable to automation risks; (2...
Securities Regulation: Customer Protection Rule Oversight Procedures Appear Adequate
GGD-92-17: Published: Nov 21, 1991. Publicly Released: Nov 21, 1991.
Pursuant to a congressional request, GAO reviewed the Securities Exchange Commission's (SEC) oversight and enforcement of the SEC customer protection rule, focusing on: (1) how SEC determines whether broker-dealers are complying with the rule's possession or control requirement; (2) whether SEC has written procedures or methodologies for testing for rule compliance; and (3) the procedures SEC uses...