Financial institutions (51 - 60 of 79 items)
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...
A Nonbanker's Perspective on Banking Reform
147032: Jan 1, 1992
This article, which appeared in the GAO Journal, No. 15, Spring/Summer 1992, discusses principles that policymakers should keep in mind as they consider banking regulation reforms, focusing on: (1) increasing protection of taxpayers and depositors by reducing risks; (2) the changing dynamics of the global economy and the development of markets to offer needed services; and (3) equitable treatment,...
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...
Bank Powers: Bank Holding Company Securities Subsidiaries' Market Activities Update
GGD-91-131: Published: Sep 20, 1991. Publicly Released: Sep 20, 1991.
Pursuant to a congressional request, GAO investigated bank holding company subsidiaries' bank-ineligible securities underwriting activities, focusing on: (1) the number of firms involved in such activities and the volume of their activities and their assets, revenues, and capital; and (2) regulatory revisions proposed by the Federal Reserve.GAO found: (1) the Federal Reserve authorized 35 banking...
Futures Markets: Strengthening Sales Practice Oversight
GGD-91-41: Published: Apr 25, 1991. Publicly Released: Apr 25, 1991.
GAO evaluated the Commodity Futures Trading Commission's (CFTC): (1) oversight of self-regulatory organizations' (SRO) compliance with sales practice requirements; and (2) monitoring of SRO sales practice audits.GAO found that: (1) CFTC oversight of futures industry sales practices needed to be strengthened to provide investors with additional protection against sales practice abuses; (2) rule enf...
Securities Industry: Strengthening Sales Practice Oversight
GGD-91-52: Published: Apr 25, 1991. Publicly Released: Apr 25, 1991.
GAO reviewed the Securities and Exchange Commission's (SEC) oversight of four self-regulatory organizations' (SRO) monitoring and enforcement of sales practice compliance among securities industry firms.GAO found that: (1) the only SEC timetable for completely inspecting SRO sales practices applied only to the district offices of one SRO; (2) SEC needed to improve its SRO inspection coverage, eval...
Financial Markets: Oversight of Automation Used to Clear and Settle Trades Is Uneven
IMTEC-90-47: Published: Jul 12, 1990. Publicly Released: Jul 12, 1990.
GAO assessed the role played by the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Federal Reserve System in developing and maintaining a strong foundation of automated systems oversight.GAO found that: (1) during the 1987 and 1989 market declines, the clearinghouses processed trades reasonably well; (2) federal regulators and clearinghouses lack...
Investment Advisers: Current Level of Oversight Puts Investors at Risk
GGD-90-83: Published: Jun 26, 1990. Publicly Released: Jul 12, 1990.
Pursuant to a congressional request, GAO reviewed the Securities and Exchange Commission's (SEC) regulation of investment advisers.GAO found that: (1) since 1980, the number of financial advisers has tripled from about 4,600 to about 14,000, and the assets they manage have increased from about $440 billion to about $4.6 trillion; (2) investment advisers provide investors little assurance that the...
Clearance and Settlement Reform: The Stock, Options, and Futures Markets Are Still at Risk
GGD-90-33: Published: Apr 11, 1990. Publicly Released: Apr 11, 1990.
GAO evaluated the progress made in response to the President's Working Group on Financial Markets' recommendations for clearance and settlement reforms after the October 1987 stock market crash, focusing on: (1) the processing of information about trades; (2) procedures used by clearing organizations to manage financial risks; and (3) payments to and from clearing organizations.GAO found that: (1)...