HOUSE OF REPRESENTATIVES, COMMITTEE ON INTERSTATE AND FOREIGN COMMERCE, Washington, DC. The committee met, pursuant to call, at 10 a.m. in the committee rom, New House Office Building, Hon. Sam Rayburn (chairman) residing. The CHAIRMAN. The committee will come to order. The committee is called together to consider H.R. 7852, for at least degree of control of stock exchanges. For quite a while there has been a sentiment throughout the counT, among very well informed people, that some degree of regulation Bald be enacted. The President of the United States has sent a sage to Congress calling attention to this need, and a bill has been troduced to serve as a basis for consideration of the committee. We have Commissioner Landis, of the Federal Trade Commission, e who will be the first witness. Mr. Landis has been professor of legislation at Harvard Law School, published numerous articles dealing with constitutional law and aspects of financial transactions; has served as special adviser to Federal Trade Commission in setting up its administration of the ties Act of 1933; and is now commissioner in charge of the anties Division. Nommissioner Landis' statement will deal, I think, with the powers Congress to do this thing and then some general principles with ence to the subject. After that we will have witnesses who are nents of the bill, who will come along and discuss the bill in taking it up section by section, and at that time the committee such questions as they desire. Mr. Landis does not object to ts, but I thought it might be a better idea to let him proceed a without interruption and then submit himself to examination. [H.R. 7952, 73d Cong., 2d sess.] le for the registration of national securities exchanges operating in interstate and foreign for wigh the mauis and to prevent inequitable and unfair practices on such exchanges, Purposes ed by the Senate and House of Representatives of the United States of Congress assembled, SHORT TITLE This Act may be cited as the "National Securities Exchange Act RACHANGES USING THE CHANNELS OF INTERSTATE COMMERCE AND rns in securities as commonly conducted upon securities W. G. Paul.. E. A. Pierce- Dean Witter..... Communications from- National Association of Building Owners and Managers. National Association of Manufacturers of the United States__ National Association of Mutual Savings Banks....... National Automobile Chamber of Commerce and Cleveland business interests Pag 91 66 65 67 64 916, 93 64 91 88 56 64 59 61 88 50 91 92 92 |