Financial Services Industry: Hearings Before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, House of Representatives, One Hundred First Congress, Second Session, on H.R. 3054, H.R. 4441, and H.R. 5777, Bills to Provide for Self-regulation and to Improve the Disclosure to Customers of Investment Advisers, and to Amend the Federal Securities Laws to Equalize the Regulatory Treatment of Participants in the Securities Industry, July 11, 1990 Financial Services Industry Oversight ....U.S. Government Printing Office, 1991 - 812 pages |
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Common terms and phrases
accounts additional administrative advertising advice affiliates amended American AMERICAN BANKERS ASSOCIATION assets bank common trust Bank Holding Company bank's believe BHCA bill BOUCHER BREEDEN broker-dealers capital Chairman charge clients collective investment funds Committee common trust funds compensation competitive Comptroller Comptroller's proposal concerns conflicts of interest CONGRESS THE LIBRARY consumers CPAs definition of investment deposit insurance depository institution DIHC enforcement engage Exchange Act exemption existing FDIC fees fiduciary financial planners financial services firewalls Glass-Steagall Act insurance agents investment adviser association Investment Advisers Act investment advisory Investment Company Act Investment Company Institute investors issue legislation loans McMILLEN mutual funds NASAA NASD national banks national investment adviser operating permit person private right problems prohibit protection regulation regulatory restrictions right of action risk Section Securities Act securities activities securities firms Subcommittee subsidiaries thrift tion trust law U.S. banks underwriting violations
Popular passages
Page 707 - For purposes of this subtitle, the term "common trust fund" means a fund maintained by a bank — (1) Exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank in its capacity as a trustee, executor, administrator, or guardian...
Page 525 - ... in the exercise of reasonable care could not have known, of the existence of the facts by reason of which the liability is alleged to exist.
Page 439 - ... any device, scheme, or artifice to defraud any client or prospective client; (2) to engage in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or prospective client...
Page 243 - Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of this title.
Page 262 - ... so liable sustains the burden of proof that he did not know, and in the exercise of reasonable care could not have known, of the existence of the facts by reason of which the liability is alleged to exist. There is contribution as in cases of contract among the several persons so liable.
Page 145 - The initial registration of such company on this form will be deemed to be filed under both the Securities Act of 1933 and the Investment Company Act of 1940 unless it is indicated that the filing is made only for the purpose of one of such acts.
Page 9 - Mr. Chairman and Members of the Committee: It is my pleasure to appear before you today to bring you up to date on the good news about the Naval Reserve and to look ahead to the future. I will discuss my "report card" for the past year and present our program for Fiscal Year 1986.
Page 266 - Investment adviser" means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing, or selling securities, or who, for compensation and as part of a regular business, issues or promulgates analyses or reports concerning securities...
Page 655 - The rather simple evaluation: if it walks like a duck, quacks like a duck, and looks like a duck, it is a duck, no matter what you call it.
Page 400 - ... (F) receipt of any consideration for his own personal account by any disqualified person who is a fiduciary from any party dealing with the plan in connection with a transaction involving the income or assets of the plan.