Download Free Report Of The Special Study Of Securities Markets Of The Securities And Exchange Commission Book in PDF and EPUB Free Download. You can read online Report Of The Special Study Of Securities Markets Of The Securities And Exchange Commission and write the review.

Since 1977, "The Transformation of Wall Street" has offered an in-depth look at the history of the SEC's origins, accomplishments, and failings since its creation in 1934. This updated third edition continues the history until 2001, the end of Arthur Levitt's Chairmanship, with a treatment of auditing issues through the enactment of the Sarbanes-Oxley Act .
In early 2001, U.S. stock & option markets began quoting prices in decimal increments rather than fractions of a dollar. At the same time, the minimum price increment, or tick size, was reduced to a penny on the stock markets & to 10¢ & 5¢ on the option markets. Although many believe that decimal pricing has benefited small individual (retail) investors, concerns have been raised that the smaller tick sizes have made trading more challenging & costly for large institutional investors, including mutual funds & pension plans. The financial livelihood of market intermediaries may also have been negatively affected by the lower ticks. This report assesses the effect of decimal pricing on retail & institutional investors & on market intermediaries. Charts.