Background to Change

J. Dundas Hamilton

Chapter 1 in Stockbroking Tomorrow, 1986, pp 1-19 from Palgrave Macmillan

Abstract: Abstract In 1984 the securities industry, and The Stock Exchange in particular, faced changes that were more sweeping and fundamental than at any previous time in its history. In that year the Council of The Stock Exchange introduced regulations for a new dealing structure, which eliminated the long-standing separation of stockjobbers and stockbrokers. Both British and overseas financial institutions negotiated arrangements to acquire member firms of their choice with the objective of building integrated investment houses on the American pattern. Certain investment institutions similarly offered to take minor stakes in stockbroking firms to ensure their commercial viability under the conditions that are likely to obtain in the future. The finest brains in the City of London were harnessed to design a blueprint for a tenable regulatory structure. And no one, least of all the major investment institutions, appeared to be very happy with the prospect. It is worth asking: ‘Why did it all happen?’

Keywords: Fair Trading; Stock Exchange; Investment Institution; Competition Policy; Member Firm (search for similar items in EconPapers)
Date: 1986
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-03406-2_1

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349034062

DOI: 10.1007/978-1-349-03406-2_1

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().