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Vol 23 No 5 May/June 2018

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Drafting Commercial Agreements

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Wall Street Polices Itself: How Securities Firms Manage the Legal Hazards of Competitive Pressures

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David P. McCaffrey, David W. Hartboth at the Department of Public Administration, University of Albany, USA

ISBN13: 9780195111873
ISBN: 0195111877
Published: January 1998
Publisher: Oxford University Press
Country of Publication: USA
Format: Hardback
Price: £53.00

This is a Print On Demand Title.
The publisher will print a copy to fulfill your order. Books can take between 1 to 3 weeks. Looseleaf titles between 1 to 2 weeks.

This book explains how the self-regulatory system for US securities firms works with three tiers of supervision. Overseeing the whole system is the US Securities and Exchange Commission, which directly supervises the self-regulatory organizations such as the New York Stock Exchange and the National Association of Securities Dealers. In turn, these self-regulatory organizations oversee the broker-dealers who conduct the daily business of buying and selling securities.;The system relies heavily on the firms' internal supervisory systems to prevent violations of securities laws, since they are in the best position to track their own internal activities. Firms may be fined, or subject to even more stringent penalties, if their supervisory systems fail. This book is an in-depth examination of how this regulatory system works, the types of regulatory problems with which broker-dealer firms must deal, why some firms have more problems than others, and what the experience with the system suggests about ways of improving self regulatory systems generally.

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Other Jurisdictions , USA
1: Self-Regulation in Broker-Dealer Firms.
2: The Social Benefits and Risks of Entrepreneurs and Free Agents.
3: Government Regulation of Broker-Dealer Firms.
4: Controls at Self-Regulatory Organizations and Broker-Dealer Firms.
5: Private Litigation and Arbitration.
6: Economic and Technological Changes: Coping with New Regulatory Problems.
7: Differences Among Broker-Dealer Firms.
8: Foundations of Effective Self-Regulation