02979nam 2200637 a 450 991022013190332120200520144314.097866117367500-8330-4784-1(CKB)1000000000535236(EBL)357898(OCoLC)437222313(SSID)ssj0000183426(PQKBManifestationID)11156646(PQKBTitleCode)TC0000183426(PQKBWorkID)10195971(PQKB)11391253(Au-PeEL)EBL357898(CaPaEBR)ebr10235200(MiAaPQ)EBC357898(EXLCZ)99100000000053523620080118d2008 uy 0engurcn|||||||||txtccrInvestor and industry perspectives on investment advisers and broker-dealers /Angela K. Hung ... [et al.]1st ed.Santa Monica, CA Randc20081 online resource (229 p.)Technical report ;TR-556-SEC"RAND Institute for Civil Justice, LRN-RAND Center for Corporate Ethics, Law, and Governance."0-8330-4403-6 Includes bibliographical references (p. 199-204).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.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 RANDTechnical report (Rand Corporation) ;TR-556-SEC.SecuritiesUnited StatesSecurities industryLaw and legislationUnited StatesInvestment advisorsLegal status, laws, etcUnited StatesStockbrokersLegal status, laws, etcUnited StatesSecuritiesSecurities industryLaw and legislationInvestment advisorsLegal status, laws, etc.StockbrokersLegal status, laws, etc.346.73/0922Hung Angela A924083LRN-RAND Center for Corporate Ethics, Law, and Governance.MiAaPQMiAaPQMiAaPQBOOK9910220131903321Investor and industry perspectives on investment advisers and broker-dealers2073802UNINA