عنوان

Investor and industry perspectives on investment advisers and broker-dealers /

(Number (ISBN

0833045016

(Number (ISBN

0833047841

(Number (ISBN

6611736751

(Number (ISBN

9780833045010

(Number (ISBN

9780833047847

(Number (ISBN

9786611736750

Erroneous ISBN

0833044036

Erroneous ISBN

9780833044037

Number

b802348

Title Proper

Investor and industry perspectives on investment advisers and broker-dealers /

General Material Designation

[Book]

First Statement of Responsibility

Angela K. Hung [and others].

Place of Publication, Distribution, etc.

Santa Monica, CA :

Name of Publisher, Distributor, etc.

Rand,

Date of Publication, Distribution, etc.

©2008.

Date of Publication, Distribution, etc.

©2008

Specific Material Designation and Extent of Item

1 online resource (xxiii, 204 pages) :

Other Physical Details

illustrations (some color)

Series Title

Technical report ;

Volume Designation

TR-556-SEC

Text of Note

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

Text of Note

Includes bibliographical references (pages 199-204).

Text of Note

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.

0

Text of Note

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 1990s 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 to conduct this study to examine the professionals' current business practices and whether investors understand differences between and relationships among them. The report describes a heterogeneous industry, with firms taking many different forms and offering a multitude of services and products and with investors failing to distinguish broker-dealers and investment advisers along regulatory lines. Despite this, investors express high levels of satisfaction with the services they receive from their own financial service providers. This satisfaction was much more frequently reported to arise from the personal attention the investor receives than from the actual financial returns arising from this relationship.

Text of Note

Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Source for Acquisition/Subscription Address

JSTOR

Stock Number

22573/cttd5gr

Title

Investor and industry perspectives on investment advisers and broker-dealers.

International Standard Book Number

0833044036

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

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

Securities-- United States.

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

Investment advisors-- Legal status, laws, etc.

LAW-- Administrative Law & Regulatory Practice.

LAW-- Civil Law.

Securities industry-- Law and legislation.

Securities.

Stockbrokers-- Legal status, laws, etc.

United States.

7

LAW-- 001000

LAW011000

Number

Edition

Class number

Book number

Hung, Angela A.

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

Date of Transaction

20201207151615.0

Cataloguing Rules (Descriptive Conventions))

pn

Electronic name

[Book]

Y