Word: sec
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Dates: during 1970-1979
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...setting up the SEC meeting, Mitchell called that "a normal process where people were complaining about the Government and putting them in touch with the head of the department." He said that the SEC investigation of Vesco was, at that stage, "not a very important thing." Ex-Chairman Casey disagrees, calling it "a big case with a very broad investigative background...
Whatever the legal findings, there is no doubt that C.R.P. officials were aware of Vesco's SEC troubles at the time that they decided to accept his contribution. Through a C.R.P. spokesman, Stans conceded that he had read about the SEC probe early in 1972 and had consulted Mitchell about accepting the money. But since no charges had been filed then against Vesco, they saw "no reason" not to take the gift. Asked why the Nixon committee took two months after the SEC suit was filed against Vesco to return the money C R P Spokesman DeVan Shumay conceded...
...almost unknown among the Wall Streeters he will regulate-and he has one of the toughest acts in Washington to follow. In a whirlwind 22 months in office, his predecessor, William J. Casey, began more far-reaching reforms of the securities industry than at almost any time in the SEC's 38-year history. To mention only two, brokers who had always charged commissions fixed by stock exchanges were forced to negotiate rates with their clients on trades worth more than $300,000, and steps were taken to link together stock exchanges round the country into a sort...
...machine-gun fire of new ideas, he indicates, Wall Street for a while can expect intensified pressure to complete the reforms that Casey began. "The pipeline is already full of Casey ideas," he explains, "and the task now is to move some of them through. My old division [the SEC division of market regulation, a Casey creation that Cook headed] is working night and day just to keep even, and I can't load them up any more...
...SEC chief also will press to lower the floor for negotiated commissions to trades of $100,000 or more by the end of this year. Cook asserts bluntly: "My friends on Wall Street tell me blood will flow if this happens, but we are going to keep pushing anyway." He hints that he will be referring to the Justice Department, for possible prosecution, more cases in which the SEC suspects that investors have profited by trading on the basis of corporate information not disclosed to the public...