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NCJRS Abstract

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NCJ Number: 119385 Find in a Library
Title: Unraveling Regulatory Control (From Values in the Marketplace: The American Stock Market Under Federal Securities Law, P 89-109, 1988, James Burk -- See NCJ-119382)
Author(s): J Burk
Date Published: 1988
Page Count: 21
Sponsoring Agency: Walter de Gruyter & Co
1 Berlin 30, Germany United
Sale Source: Walter de Gruyter & Co
Genthiner Str 13
1 Berlin 30,
Germany (Unified)
Type: Report (Study/Research)
Language: English
Country: West Germany (Former)
Annotation: This chapter describes how market practices of the 1960s and 1970s challenged the traditional regulatory practices of the stock market, forcing Congress to reform the market's regulatory structure in order to restore its stability.
Abstract: Traditional regulatory principles and practices are discussed, along with the rise of institutional stock investing and its effect on the efficiency and stability of the market. Customer complaints about unsettled trades led to the discovery of serious operational deficiencies among brokerage firms. Congress responded with legislation to protect investors, while at the same time expressing disappointment with the oversight of the Securities and Exchange Commission. The lesson of the 1960s and 1970s was that market order is not spontaneous and market rules will not adjust themselves. Authority must be exercised and traditional regulatory principles adapted to respond to the changing realities of the market. 45 footnotes.
Main Term(s): Securities fraud
Index Term(s): Federal regulations; Securities and Exchange Commission
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