Word: sec
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Signs of trouble appeared as early as June, when Mates' fund, under SEC pressure, stopped offering new shares. They had been selling at a fantastic rate -often more than $1,000,000 a day-largely on the strength of Mates' well-publicized feel for hot stocks. The fund had to turn back business, Mates said, because bookkeepers could not keep up with the incoming flood of cash...
...Brokerage commissions reached about $5 billion, and some top customers' men earned as much as $500,000 each. Prodded by the Securities and Exchange Commission, the New York Stock Exchange cut commissions by 7% on orders of 1,000 shares or more. Unless the Nixon Administration forces the SEC to change course, this is only the beginning of far-reaching changes in both commissions and the privileges of the stock exchanges. They now have almost monopolistic powers to limit access to trading and to fix commissions so high that the big men in firms with exchange memberships are practically...
...When there's trouble, the Boss wants Bob." Nixon all but announced last week that he had chosen his old friend Robert Hutchison Finch for Sec- retary of Health, Education and Welfare. In a jocular speech, Finch, 43, remarked, "I've worked with the President-elect a long time and I can tell you there hasn't been much health in it, there hasn't been much welfare in it, but it's been a damn good education." In the process, he has matured as a consummate politician who is likely to be the next...
...settling with the SEC, the firm managed to blunt some of the impact of the case. Still, the SEC publicly rebuked ten Merrill Lynch employees, and seven were ordered temporarily suspended without pay. Among them were Archangelo Catapano, a vice president and the firm's aerospace specialist, who was suspended for 60 days, Philip F. Bilbao, vice president and manager of institutional services, and five of his salesmen each drew 21 days. Three other Merrill Lynch employees, including two more vice presidents, were just censured. The commission also ordered Merrill Lynch to close its New York institutional sales office...
...image of the firm that likes to boast that it brought Wall Street to Main Street will be difficult to erase. The 15 institutional investors accused of acting on the Merrill Lynch tip-including Dreyfus Corp., the Madison Fund and Investors Management Co.-are still to appear before an SEC examiner for hearings on the Douglas case. And individual Merrill Lynch customers who feel that they were wronged by the Douglas incident may claim compensation for their losses...