*Letters

SIA Submits Comments to the SEC on a Recent GAO Report on Online Trading

Published on:
August 2, 2000

The Committee on Technology and Regulation and the Online Brokerage Legal Committee of the Securities Industry Association (SIA)* provide comments to the Securities and Exchange Commission on the Government Accountability Office (GAO Report), Online Trading: Better Investor Protection Information Needed on Brokers’ Web Sites (GAO/GGD-00-43, May 9, 2000). SIA offers views on two recommendations in the GAO Report:

  • that the Securities and Exchange Commission (SEC) should require broker-dealers with online trasing systems to maintain consistent records on system delays and outages and their related causes, and to disclose on their web sites the potential for service disruptions; and
  • that the SEC ensure that online brokers include information on their web sites about key investor protection areas, such as trading risks, margin requirements, privacy policies, and best execution.

*SIFMA is the product of a merger between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.

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