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Securities Industry Association

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BUSINESS
September 23, 1999 | Bloomberg News
The securities industry wants to convert stock price fractions to decimals over three months beginning in July, a trade group said Wednesday. That timetable clarifies when exchanges and securities firms will begin quoting stocks and options in decimal increments instead of fractions, ending a two-century tradition. The Securities Industry Assn. said this "phase-in" will "protect the public and avoid major systems problems." But the task is daunting.
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BUSINESS
January 17, 2008 | From Times Wire Services
T. Timothy Ryan Jr., a former JPMorgan Chase & Co. investment banker, was named chief executive of Wall Street's biggest lobbying group. The Securities Industry and Financial Markets Assn. said Ryan would succeed Marc Lackritz, who retired Dec. 31. Ryan has been vice chairman of investment banking for financial institutions and governments at JPMorgan. Before joining JPMorgan in 1993, Ryan was director of the U.S. Treasury's Office of Thrift Supervision.
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BUSINESS
April 26, 1997 | From Associated Press
A rewrite of mutual fund prospectuses to put them in plain English should be voluntary and not mandatory, as federal regulators are proposing, the securities industry says. The Securities Industry Assn. submitted comments Thursday on the sweeping initiative being pushed by the Securities and Exchange Commission to make prospectus documents simpler for investors to understand by using plain English and clearing away technical jargon and clutter.
BUSINESS
June 15, 2001 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
Voluntary guidelines newly proposed by the securities industry don't go far enough to protect investors from conflicts of interest that can taint brokerages' stock recommendations, lawmakers said Thursday. Unless the industry puts teeth into the rules, the federal government might step in with regulations or legislation, Rep. Michael G.
BUSINESS
July 7, 1994 | From Times Staff and Wire Reports
SEC, Industry Discuss Derivatives Guidelines: As Congress tries to craft rules to rein in the derivatives business, the Securities and Exchange Commission is discussing voluntary guidelines with six of the nation's largest derivatives dealers. The genesis of the talks is an April letter to the SEC from the Securities Industry Assn., Wall Street's main trade group.
BUSINESS
November 30, 1990 | From Reuters
The Securities Industry Assn.'s incoming chairman Thursday urged Congress, the White House, the Federal Reserve and the Treasury to hold a summit on ways to restructure the U.S. financial system to make it sounder and more competitive. "We need to have a financial summit," Dale Horowitz said, adding that representatives from banks, thrifts, insurance companies, securities firms and other interested parties should be represented.
BUSINESS
May 30, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
In a victory for the securities industry, the U.S. Supreme Court refused to hear a case that would overturn clauses in securities contracts that require customers to go to arbitration rather than court when they have a dispute with a broker or brokerage company. The case, Michael J. Connolly vs. the Securities Industry Assn., also sought to require greater disclosure about arbitration agreements.
BUSINESS
September 12, 1991 | From Times Staff and Wire Reports
Salomon Exec Stays as Head of SIA: The Securities Industry Assn. said Gedale Horowitz, a senior executive director of Salomon Bros. Inc., will continue as chairman of the brokerage industry's main trade association. Earlier, there was speculation that Horowitz would be asked to step down as association chairman because of Salomon's admitted wrongdoing in the government securities market, even though Horowitz personally wasn't implicated in any wrongdoing.
BUSINESS
December 2, 1989 | From Associated Press
Wall Street leaders declared an end on Friday to their lengthy battle to keep banks out of the stocks and bonds business, proposing to junk the law that has governed the nation's basic banking structure since the Depression. Directors of the Securities Industry Assn., at the trade group's annual convention here, endorsed a proposal for new legislation to let subsidiaries of banks "engage in a broad range of securities and securities-related activities."
BUSINESS
September 27, 2000 | Reuters
The Securities Industry Assn. has joined with the National Investor Relations Institute in asking the SEC to delay new rules designed to ensure that key corporate information is released to all investors at the same time. The SEC's rule, Regulation FD (for Fair Disclosure), was approved by the commission in August, with an Oct. 23 start date.
BUSINESS
September 23, 1999 | Bloomberg News
The securities industry wants to convert stock price fractions to decimals over three months beginning in July, a trade group said Wednesday. That timetable clarifies when exchanges and securities firms will begin quoting stocks and options in decimal increments instead of fractions, ending a two-century tradition. The Securities Industry Assn. said this "phase-in" will "protect the public and avoid major systems problems." But the task is daunting.
BUSINESS
July 14, 1998 | From Times Wire Services
Wall Street's major exchanges and securities firms Monday began the most ambitious test yet of how well their computers will handle the transition to 2000. The test, sponsored by the Securities Industry Assn., is an attempt to determine the impact of the "millennium bug," which could cause computers that recognize only the last two digits of a year to malfunction or fail. After months of testing their own systems, 12 exchanges and 29 Wall Street firms all set test computers Monday to Dec.
BUSINESS
April 26, 1997 | From Associated Press
A rewrite of mutual fund prospectuses to put them in plain English should be voluntary and not mandatory, as federal regulators are proposing, the securities industry says. The Securities Industry Assn. submitted comments Thursday on the sweeping initiative being pushed by the Securities and Exchange Commission to make prospectus documents simpler for investors to understand by using plain English and clearing away technical jargon and clutter.
BUSINESS
July 7, 1994 | From Times Staff and Wire Reports
SEC, Industry Discuss Derivatives Guidelines: As Congress tries to craft rules to rein in the derivatives business, the Securities and Exchange Commission is discussing voluntary guidelines with six of the nation's largest derivatives dealers. The genesis of the talks is an April letter to the SEC from the Securities Industry Assn., Wall Street's main trade group.
BUSINESS
September 12, 1991 | From Times Staff and Wire Reports
Salomon Exec Stays as Head of SIA: The Securities Industry Assn. said Gedale Horowitz, a senior executive director of Salomon Bros. Inc., will continue as chairman of the brokerage industry's main trade association. Earlier, there was speculation that Horowitz would be asked to step down as association chairman because of Salomon's admitted wrongdoing in the government securities market, even though Horowitz personally wasn't implicated in any wrongdoing.
BUSINESS
February 11, 1989 | From Reuters
In its latest move to protect its turf, a securities industry trade group said Friday that it will sue the Federal Reserve Board to prevent affiliates of bank holding companies from underwriting corporate stock and bonds. Last month the Fed said it would allow bank affiliates to underwrite corporate bonds, eroding the strict division between the banking and securities industries laid out in the Glass-Steagall Act of 1933. The Securities Industry Assn.
BUSINESS
November 30, 1990 | From Reuters
The Securities Industry Assn.'s incoming chairman Thursday urged Congress, the White House, the Federal Reserve and the Treasury to hold a summit on ways to restructure the U.S. financial system to make it sounder and more competitive. "We need to have a financial summit," Dale Horowitz said, adding that representatives from banks, thrifts, insurance companies, securities firms and other interested parties should be represented.
BUSINESS
May 30, 1990 | KATHY M. KRISTOF, TIMES STAFF WRITER
In a victory for the securities industry, the U.S. Supreme Court refused to hear a case that would overturn clauses in securities contracts that require customers to go to arbitration rather than court when they have a dispute with a broker or brokerage company. The case, Michael J. Connolly vs. the Securities Industry Assn., also sought to require greater disclosure about arbitration agreements.
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