September 23, 1999 |
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.
April 26, 1997 |
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.
July 7, 1994 |
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.
September 12, 1991 |
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.
November 30, 1990 |
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.
May 30, 1990 |
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.