Word: antifraud
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Dates: during 1960-1969
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...investors, there are good reasons for it. Unlisted stocks account for at least 60% of the maddening delays in delivering stock certificates. Moreover, the Securities and Exchange Commission virtually dictated some sort of crackdown. Two weeks ago, as part of a stern warning that dealers may be violating the antifraud provisions of federal securities law if they knowingly trade shares they cannot deliver promptly, the SEC suggested that a possession-before-sale policy would be "appropriate...
...withholding important news of the company while buying up its stock, the SEC charged in a civil law suit filed in a New York federal district court, the Texas Gulf insiders had violated the antifraud section of the Securities Exchange Act, which declares it unlawful to buy or sell securities while concealing any pertinent facts. In a departure from precedent, the SEC not only sued to have the practice stopped-its usual aim in noncriminal suits of this sort-but, for the first time, to have the stock purchases canceled and any profits returned to the previous owners...