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The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. ( NASD ) as well as to the member regulation, enforcement, and ...
The Securities Act of 1933 regulates the distribution of securities to public investors by creating registration and liability provisions to protect investors. With only a few exemptions, every security offering is required to be registered with the SEC by filing a registration statement that includes issuer history, business competition and material risks, litigation information, previous ...
Broker-dealers are companies that trade securities for customers (i.e., brokers) and for their own accounts (i.e., dealers). [2] The rule requires those firms to value their securities at market prices and to apply to those values a haircut (i.e., a discount) based on each security's risk characteristics. [3]
In 1972, before the Securities and Exchange Commission (SEC) began its pursuit of a national market system, the market for securities was quite fragmented. The same stock sometimes traded at different prices at different trading venues, and the NYSE ticker tape did not report transactions of NYSE-listed stocks that took place on regional exchanges or on other over-the-counter securities ...
These laws were enacted and enforced at the state level and regulated the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws varied among states, they all required the registration of all securities offerings and sales, as well as of every U.S. stockbroker and brokerage firm. [9]
Velocity is a technology-driven, self-clearing broker/dealer with a mission to combine high-tech infrastructure with high-touch service. The company supports institutional clients including broker/dealers, hedge funds, family offices and proprietary trading firms.
Its clearing members serve both professional traders and public customers and are approximately 115 of the largest U.S. broker-dealers, futures commission merchants and non-U.S. securities firms. OCC also serves other markets, including those of trading commodity futures, commodity options, and security futures.
The Depository Trust & Clearing Corporation is the firm that actually processes brokerage trades. However, stock trades don’t settle until two days after they are made.