| Qualification Examinations for Persons in the Securities Industry |
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| Persons who wish to enter the securities industry to sell or trade securities must pass an initial examination in order to be eligible to register with a self-regulatory organization such as the New York or American Stock Exchanges or Nasdaq. More... |
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| The Federal Antitrust Law Exemption for State Action |
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| Federal antitrust laws are considered inapplicable to economic regulation by the States. In Parker v. Brown, 317 U.S. 341 (1943), the Supreme Court reasoned that in the "dual system of government" of the United States, any subtraction by Congress from the sovereign powers of the states must be explicitly stated. Nothing in the Sherman Act (the first federal antitrust law) or in the legislative history of the Sherman Act indicated a Congressional intent to subject state regulatory activities to the Sherman Act. More... |
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| "Persons" Subject to the Sherman Act |
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| Sections 1 through 3 of the Sherman Act, 15 U.S.C.S. §§ 1-3, provide for prison terms, fines and damages to be assessed against "persons" who enter into agreements in restraint of trade or who monopolize, attempt to monopolize or conspire to monopolize trade. More... |
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| CONFLICT OF INTEREST |
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| CONFLICT OF INTEREST More... |
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| Breakpoints in Mutual Fund Charges |
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| Mutual funds may offer "breakpoints" in their front-end sales load. Thus, a fund that charges a fee of five percent for investments up to $25,000 may charge only four percent for investments from $25,000 to $50,000 and three percent for investments over $50,000. The fund has breakpoints at $25,000 and $50,000. More... |
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