Last week the U. S. Government did the following for and to U. S. Business:
¶ Effected regulation of over-the-counter security trading after three years' study by SEC. Passed by Congress just before adjournment was the Maloney bill granting SEC indirect control over 0-T-C trading through dealers' associations. The 9,000-odd active 0-T-C dealers are supposed to band together in geographical groups, draw up rules, elect officers and police themselves (all subject to SEC approval). If SEC decides that this has failed to prevent manipulation, excessive commissions, other unfair practices, it may...
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