Investor and industry perspectives on investment advisers and broker-dealers / Angela K. Hung ... [et al.].

Format:

Book

Contributor:

Hung, Angela A.

LRN-RAND Center for Corporate Ethics, Law, and Governance.

Series:

Technical report (Rand Corporation) ; TR-556-SEC.

Technical report ; TR-556-SEC

Language:

English

Subjects (All):

Securities--United States.

Securities.

Securities industry--Law and legislation--United States.

Securities industry.

Investment advisors--Legal status, laws, etc--United States.

Investment advisors.

Stockbrokers--Legal status, laws, etc--United States.

Stockbrokers.

Physical Description:

1 online resource (229 p.)

Edition:

1st ed.

Place of Publication:

Santa Monica, CA : Rand, c2008.

Language Note:

English

Summary:

In theory, financial professionals are relatively distinct: A broker conducts transactions in securities on behalf of others; a dealer buys and sells securities for his or her own accounts; and an investment adviser provides advice to others regarding securities. Broker-dealers and investment advisers are subject to different regulatory structures. But trends in the financial services market since the early 1990's have blurred the boundaries between them. Regulatory reform requires a clearer understanding of the industry's complexities. The U.S. Securities and Exchange Commission asked RAND

Contents:

Regulatory and legal background

View of the industry from published sources

Insights from industry data

Documentation and information provided by firms

Investors' level of understanding.

Notes:

"RAND Institute for Civil Justice, LRN-RAND Center for Corporate Ethics, Law, and Governance."

Includes bibliographical references (p. 199-204).

ISBN:

9786611736750

0-8330-4784-1

OCLC:

437222313