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| Financial Services Regulatory Groups |
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-American-
Offices: New York, New York
AMEX has been a pioneer in market innovation for more than a century and
remains committed to developing successful new investment products and innovative
services for companies and investors. As the nation's most diversified financial
marketplace, the American Stock Exchange conducts trading through an advanced
centralized specialist system and is committed to providing a superior marketplace
for the investing public and its members.-Chicago-
Offices: Chicago, Illinois
As the leading futures exchange in the United States, Chicago Mercantile
ExchangeŽ (CME) is vital to the infrastructure of global finance. Their
products—futures and options on futures contracts—help commercial enterprises
worldwide manage price risks related to the uncertainties of supply and
demand. From its roots in the agricultural industry, CME furthered its reputation
for innovation when it introduced the world's first financial futures more
than 30 years ago. Today, CME products include interest rates, stock indexes,
foreign exchange and commodities.-Digital Millennium-
Offices: Washington, DC
The Digital Millennium Copyright Act (DMCA) was signed into law by President
Clinton on October 28, 1998. The legislation implements two 1996 World Intellectual
Property Organization (WIPO) treaties: the WIPO Copyright Treaty and the
WIPO Performances and Phonograms Treaty. The DMCA also addresses a number
of other significant copyright-related issues.-Hong Kong-
Offices: Hong Kong, China
HKEx is the holding company of The Stock Exchange of Hong Kong, Hong Kong
Futures Exchange Limited and Hong Kong Securities Clearing Company. It brings
together the market organizations which have transformed Hong Kong's financial
services industry from a domestically focused industry to the global player
it is today. HKEx went public in June 2000 following the integration of
the securities and futures market. As a listed company, answerable to its
shareholders, HKEx competes vigorously for opportunities in the region and
around the world. It is a market-driven business, operating business-driven
markets.-London-
Offices: Hong Kong, China
The London Stock Exchange's strategy is to compete globally in the market
for financial transaction services and become the market of choice. Their
revenues are derived from activities in 3 main business areas: Issuer Services,
Broker Services and Information Services. In line with their strategy, these
services have a shared focus on maintaining and enhancing their high standards
of customer service while looking to increase the reach and scale of their
businesses by building on their core capabilities.-National-
Offices: New York, New York
NASDAQ, since its debut in 1971 as the world's first electronic stock market,
has been at the forefront of innovation, using technology to bring millions
of investors together with the world's leading companies. Today, NASDAQ
is the world's largest electronic stock market, listing approximately 3,600
of the world's most innovative companies. It is home to category-defining
companies that are leaders across all areas of business including technology,
retail, communications, financial services, media and biotechnology industries.
Offices: New York, New York
NYSE traces its origins to a founding agreement in 1792. The NYSE registered
as a national securities exchange with the US Securities and Exchange Commission
on October 1, 1934. The Governing Committee was the primary governing body
until 1938, at which time The Exchange hired its first paid president and
created a thirty-three member Board of Governors. The Board included Exchange
members, non-member partners from both New York and out-of-town firms, as
well as public representatives. Currently, the NYSE Board of Directors is
comprised of 27 members: 12 directors from the securities industry and 12
public directors, the Chairman and CEO, and the two Presidents, co-COOs
and Executive Vice Chairmen.-Over The Counter-
Offices: New York, New York
The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays
real-time quotes, last-sale prices, and volume information in over-the-counter
(OTC) equity securities. An OTC equity security generally is any equity
that is not listed or traded on Nasdaq or a national securities exchange.
OTCBB securities include national, regional, and foreign equity issues,
warrants, units, American Depositary Receipts (ADRs), and Direct Participation
Programs (DPPs). In April 1998, all foreign securities and ADRs that are
fully registered with the SEC became eligible for the display of real-time
quotes, last-sale prices, and volume information on the OTCBB.-Sarbanes Oxley-
Offices: Washington, DC
Sarbanes-Oxley contains many advances for corporate governance, although
it also represents what formerly would have been an unimaginable incursion
of the US federal government into the corporate governance arena. Historically,
the individual states generally had exclusive jurisdiction over corporate
governance matters. Sarbanes-Oxley attempts to provide fundamental mechanisms
to prevent the misdeeds that led to investor losses. These mechanisms are
intended as best practices. Many are not outright requirements, but are
requirements on corporations to disclose aspects and then let the market
decide what importance to put on that disclosure.-Toronto-
Offices: Toronto, Ontario
TSX Group is a cornerstone of the Canadian financial system and is at the
centre of Canada's equity capital market. TSX Group owns and operates Canada's
two national stock exchanges—Toronto Stock Exchange serving the senior equity
market, and TSX Venture Exchange serving the public venture equity market—as
well as NGX, a leading North American exchange for the trading and clearing
of natural gas and electricity contracts. From its preeminent domestic base,
TSX Group's reach continues to extend internationally, through TSX Markets
and TSX Datalinx.-United States-
Offices: Washington, DC
The Bureau of Labor Statistics is the principal fact-finding agency for
the Federal Government in the broad field of labor economics and statistics.
With the strongest commitment to integrity and objectivity, the BLS will
be premier among statistical agencies, producing impartial, timely, and
accurate data relevant to the needs of their users and to the social and
economic conditions of their Nation, its workers, and their families.
Offices: Washington, DC
The Federal Communications Commission (FCC) is an independent United States
government agency, directly responsible to Congress. The FCC was established
by the Communications Act of 1934 and is charged with regulating interstate
and international communications by radio, television, wire, satellite and
cable. The FCC's jurisdiction covers the 50 states, the District of Columbia,
and US possessions.
Offices: Washington, DC
The Federal Trade Commission (FTC) works to ensure that the nation's markets
are vigorous, efficient and free of restrictions that harm consumers. Experience
demonstrates that competition among firms yields products at the lowest
prices, spurs innovation and strengthens the economy. Markets also work
best when consumers can make informed choices based on accurate information.
To ensure the smooth operation of their free market system, the FTC enforces
federal consumer protection laws that prevent fraud, deception and unfair
business practices.
Offices: Washington, DC
SEC is empowered broad authority over all aspects of the securities industry.
This includes the power to register, regulate, and oversee brokerage firms,
transfer agents, and clearing agencies as well as the nation's securities
self regulatory organizations (SROs). The various stock exchanges, such
as the New York Stock Exchange, and American Stock Exchange are SROs. The
National Association of Securities Dealers, which operates the NASDAQ system,
is also an SRO. The Securities Exchange Act also governs the disclosure
in materials used to solicit shareholders' votes in annual or special meetings
held for the election of directors and the approval of other corporate action.
Offices: Washington, DC
SBA was officially established in 1953, but its philosophy and mission began
to take shape years earlier in a number of predecessor agencies, largely
as a response to the pressures of the Great Depression and World War II.
Nearly 20 million small businesses have received direct or indirect help
from one or another of those SBA programs since 1953, as the agency has
become the government's most cost-effective instrument for economic development.
In fact, SBA's current business loan portfolio of roughly 219,000 loans
worth more than $45 billion makes it the largest single financial backer
of the US businesses in the nation.
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