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One implication for the securities market is in municipal bonds.
The change should help encourage a livelier market for the securities.
Twenty years later, the market for the securities was bigger than the market for Treasury bonds.
But demand for the securities was a healthy 2.5 times the amount offered.
National regulators have been helping to draw up common standards for the securities industry.
The profit came from interest payments, principal and rising prices for the securities, the department said.
Similar(21)
Before his tenure in the securities industry, Mr. Moss worked as a lawyer for the Securities and Exchange Commission.
A spokesman for the Securities Exchange Commission declined to comment.
She is an assistant chief litigation counsel for the Securities and Exchange Commission in Washington.
Nor was it enough for the Securities and Exchange Commission, and its chairman, William H. Donaldson.
Her father was a senior investigator for the Securities and Exchange Commission in New York.
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