Word: sec
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...better off at sea level. In the 10,000 meters, for example, none of the first three finishers even man aged to equal the Olympic qualifying standard. But in most of the other events, the thin air was obviously no great hindrance. California's Geoff Vanderstock pared .3 sec. off the world record for the 400-meter intermediate hurdles. Another Californian, Jim Hines, tied the world mark of 10 sec. flat in the 100-meter dash. Army SP/4 Tom Farrell ran one of the fastest 800 me ters of the year when he was clocked...
...therefore all the more shocking that the SEC complaint accused Merrill Lynch of accepting a payoff for its stock tip to big investors. This consisted in part of "give-ups" on shares subsequently traded by the 15 institutions, the SEC charged. A give-up is a practice by which a large investor orders the broker executing a transaction to split his commission with other brokers, in this case with Merrill Lynch. Give-ups have long been under SEC fire. The agency contends that such fee splitting means that brokers' commissions are unduly large on big-volume deals. In their...
Stretching the Rule. The SEC's current effort to force the exchanges to pare their commissions began only this year, but the drive to erase insiders' advantages in the stock market started long ago. The agency established in 1961, in the Cady, Roberts case, that a broker who buys or sells stock on the basis of inside information commits fraud. Such police work intensified after Lawyer Manuel F. Cohen, an austere career civil servant, took over as SEC chairman in 1964. In the Merrill Lynch case, the SEC contends that not only the inside-tip giver is acting...
...guidance is so prized that an army of more than 11,000 securities analysts strive constantly to uncover it. Investment-company managers, in particular, feel obliged to use whatever they learn to improve their handling of other people's money. Thus, some mutual funds were indignant at the SEC's charges. President Edward Merkle of the Mad ison Fund called them "ridiculous...
Unless granted more time, Merrill Lynch and the other respondents have 15 days to file formal answers to the SEC charges. Then an SEC examiner will conduct the public hearings, probably in Manhattan. If he and the commission uphold the accusations, Merrill Lynch could face penalties ranging from a wrist-tap censure to permanent revocation of its license to do business. The institutions would be subject to milder punishment. They could, for example, be barred from operating as broker-dealers, or lose their registration as investment advisers. But, except for Dreyfus Corp., which operates the well-known Dreyfus & Co. brokerage...