Word: bucketshop
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Dates: during 1930-1939
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...restricted field of domestic farm staples, however, the Commodity Act hews closer to the general line of securities regulation. Trading sins include manipulation, wash sales, dealing in options, bucketshop operations and routine fraud. Customers have to put up actual margins, something of an innovation for big speculators whose credit is good. One customer's funds may not be used to support another customer's accounts. Floor brokers and commission merchants with a futures business have to register with the Commission. Among the Commission's wide discretionary powers are the right to delay or advance contract settlements...