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GAO Urges More Rules For On-Line Brokers
After conducting a study of 12 on-line trading firms (comprising 90% of on-line business), the Government Accounting Office (GAO) recommends that on-line investors receive more protection.
Protections recommended include a requirement that brokerage firms detail risks such as the potential for delays and outages. Additionally, the GAO found that only 25% of the on-line firms posted information about margin requirements on their Web sites. Others informed in hard to understand “legalese”. On-line firms need to do better.
Source: Wall Street Journal, June 9, 2000
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