Report Of The Secretary Of The Treasury On Specialized Government Securities Brokers And Dealers

Author :
Publisher : Forgotten Books
ISBN 13 : 9780331655865
Total Pages : 62 pages
Book Rating : 4.6/5 (558 download)

DOWNLOAD NOW!

Download or read book Report of the Secretary of the Treasury on Specialized Government Securities Brokers and Dealers (Classic Reprint) written by and published by Forgotten Books. This book was released on 2017-11-22 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Report of the Secretary of the Treasury on Specialized Government Securities Brokers and Dealers In completing this study, Treasury staff conducted 17 interviews, which represented 21 of the 33 specialized government securities brokers and dealers. The report summarizes the nature and types of business the firms conduct. In the interviews, the firms indicated that the primary reasons they originally registered as specialized government securities brokers and dealers were that the gsa regulatory structure and rules were a good fit for the limited and specialized lines of business that the firms conduct and did not impose excessive and overly burdensome requirements he no qualifications testing or sipc fees). The Treasury capital rule was also viewed favorably by the firms as better reflecting the realities of the government securities market. Interdealer brokers who play a special role in the vast, over-the-counter market for Treasury securities, and other government securities, particularly stressed the need for regulatory structure tailored to their unique role. The number of specialized government securities brokers and dealers has steadily declined from the inception of the gsa from 67 firms in 1987 to 33 as of March 1995. Differences between the regulatory system for specialized government securities brokers and dealers and the system for general securities brokers and dealers that conduct a government securities business have either been eliminated or significantly reduced through recent Congressional and regulatory actions. However, one significant difference remains separate Treasury and sec capital rules. Since efforts by the Treasury and the sec staffs to develop a uniform capital treatment for all government securities transactions are not yet complete, a decision to eliminate the regulatory system for specialized government securities brokers and dealers would be premature. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.