Internal controls (21 - 30 of 48 items)
Securities Investor Protection: Update on Matters Related to the Securities Investor Protection Corporation
GAO-03-811: Published: Jul 11, 2003. Publicly Released: Aug 11, 2003.
As result of ongoing concerns about the adequacy of disclosures provided to investors about the Securities Investor Protection Corporation (SIPC) and investors' responsibilities to protect their investments, GAO issued a report in 2001 entitled Securities Investor Protection: Steps Needed to Better Disclose SIPC Policies to Investors (GAO-01-653). GAO was asked to determine the status of recommend...
SEC Enforcement: More Actions Needed to Improve Oversight of Disgorgement Collections
GAO-02-771: Published: Jul 12, 2002. Publicly Released: Jul 24, 2002.
Every year investors lose money to individuals and corporations that violate federal securities laws. One mission of the Securities and Exchange Commission (SEC) is to deter such violations and return lost funds to investors. SEC's primary tool is the disgorgement order, which requires violators to give up money obtained through securities law violations. In order for disgorgement to succeed, SEC...
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...
Procedures for Updating Arbitrator Disclosure Information
GAO-01-162R: Published: Nov 9, 2000. Publicly Released: Dec 4, 2000.
The National Association of Securities Dealers (NASD) subsidiary, NASD Dispute Resolution (DR), failed to update its arbitrator disclosure system in a timely manner. As a result, several parties in an arbitration did not receive timely information on their arbitrator. To reduce the potential for further errors, NASD-DRplans to: (1) introduce a form that will allow arbitrators to submit updated inf...
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...
Commodity Exchange Act: Issues Related to the Regulation of Electronic Trading Systems
GGD-00-99: Published: May 5, 2000. Publicly Released: May 5, 2000.
Pursuant to a congressional request, GAO reviewed issues related to the regulation of electronic trading systems, focusing on: (1) how technology is being used in the exchange-traded futures market, and what concerns this use raises under the Commodity Exchange Act (CEA); (2) how technology is being used in the over-the-counter (OTC) derivatives market, and what concerns this use raises under the...
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...
Securities Exchange Act: Review of Reporting Under Section 10A
AIMD-00-54R: Published: Feb 4, 2000. Publicly Released: Feb 4, 2000.
Pursuant to a congressional request, GAO reviewed the reporting procedures under Section 10A of the Securities Exchange Act of 1934.GAO noted that: (1) according to the Securities and Exchange Commission's (SEC) records, 6 Section 10A reports have been filed through December 14, 1999; (2) the Section 10A reporting requirements first became effective for fiscal years beginning on or after January 1...
Results Act: Observations on CFTC's Strategic Plan
T-GGD-98-17: Published: Oct 22, 1997. Publicly Released: Oct 22, 1997.
Pursuant to a congressional request, GAO assessed the Commodity Futures Trading Commission's (CFTC) strategic plan for compliance with the Government Performance and Results Act.GAO noted that: (1) CFTC's strategic plan contained all of the major components required by the Results Act; (2) there are several areas in which CFTC could improve its plan; (3) the plan defines goals and objectives that...
Financial Institutions and Markets Issue Area: Active Assignments
AA-97-6(3): Published: Sep 1, 1997. Publicly Released: Sep 1, 1997.
GAO provided information on its active assignments in the Financial Institutions and Markets issue area as of August 29, 1997...