November 6, 1996 |
The Nasdaq Stock Market said it can't meet the Securities and Exchange Commission's deadline for complying with new rules on the way it lists stock prices. Meeting the SEC's Jan. 10 deadline requires changes in Nasdaq's trading system that can't be completed until the second quarter of 1997 at the earliest, Nasdaq President Alfred Berkeley said in a letter to Richard Lindsey, SEC director of market regulation.
October 22, 1996 |
Nasdaq Delists Two Companies: The Nasdaq Stock Market delisted two companies cited by the Justice Department in fraud charges brought in Brooklyn, N.Y. The conduct of the companies, Lighthouse Point, Fla.-based ICIS Management Group Inc. and West Babylon, N.Y.-based Comprehensive Environmental Systems Inc., was "egregious," said Nasdaq President Alfred Berkeley. The U.S. attorney in Brooklyn announced Oct.
December 15, 1998 |
The National Assn. of Securities Dealers expects to propose rules aimed at curbing the volatility that has characterized recent initial public offerings of many Internet company stocks, Nasdaq President Alfred Berkeley said Monday. The rules, which would need Securities and Exchange Commission approval, would seek to increase the visibility of the "true IPO market" before trading opens on a new stock, Berkeley said.
July 28, 2000 |
Nasdaq's parent, the National Assn. of Securities Dealers, on Thursday named a new management team to prepare the organization for the planned spinoff of the No. 2 U.S. stock market. The NASD said Robert Glauber, 61, an adjunct lecturer at Harvard University, will become NASD's chief executive Nov. 1, replacing Frank Zarb, a Wall Street veteran now at retirement age.
September 27, 1996 |
The Nasdaq Stock Market, chastened by criticism that it failed to protect small investors, is out to tell 55 million investors that it's changed. With a 15-second television ad blitz and newspaper ad campaign in the next four months--as well as an enhanced World Wide Web site--the nation's second-largest stock market will be telling investors about the new rules the Securities and Exchange Commission approved last month.
October 28, 1997
"It is important to remember that the fundamentals of the United States economy are strong and have been for the past several years. And the prospects for continued growth with low inflation and low unemployment are strong." --U.S. Treasury Secretary Robert E. Rubin * "I believe in the tuna fish theory of investing: If I told you that tuna fish was 25% off, you'd say, 'Back up the truck and unload.' Now that the market's down 25%, the same theorem should apply.