hero_image_url=https://images.examples.com/wp-content/uploads/2026/07/SEC-Rules-Hearing-Opening-Statement.png edl_preview_height_px_main=851 edl_preview_height_px= 3404 count_images = 2 less_than_600 = 6 greater_than_600=4 count_of_examples=49

SEC Rules Hearing Opening Statement — page 1

1

OPENING STATEMENT OF

THE HONORABLE RAY GARRETT, JR., CHAIRMAN,

SECURITIES AND EXCHANGE COMMISSION, AT THE ORAL

HEARINGS TO CONSIDER PROPOSED SECURITIES EXCHANGE

ACT RULES 19b-3 AND 10b-22 (FILE NO. 4-176)

November 19, 1974

Good Morning. Today, we are considering comments on proposed

Securities Exchange Act Rules 19b-3 and 10b-22, concerning the fixing of

commission rates by national securities exchanges.

The Commission has long been concerned with the operation of fixed

commission rates for exchange transactions. And, for more than a decade, we

have been actively studying whether fixed rates continue to be necessary or

appropriate in furtherance of any of the purposes of the Securities Exchange

Act of 1934. Six years ago, in 1968, we began considering transitional

changes away from the exchanges' fixed rate schedules. Changes have

continued since that time, reflecting, in part, our determination that the

implementation of any new system should be done in a manner consistent

with the protection of investors and the public interest.

The proposed rules before us today were published on October 24,

1974, when it became apparent that a number of exchanges would not

voluntarily eliminate the fixing of commission rates on exchange transactions,

SEC Rules Hearing Opening Statement — page 2

2

as we had requested. I f adopted, the proposed rules would implement the

Commission's request and its earlier policy conclusion, announced in

September, 1973, that the exchanges' practice of requiring their members to

charge fixed commission rates should terminate on or before May 1, 1975.

Recognizing that it was not appropriate, in 1934, to provide a

"legislative strait jacket" [FOOTNOTE: Committee on Stock Exchange

Regulation, Report to the Secretary of Commerce, 73

rd

Cong., 2d Sess.

(Comm. Print, 1934), at p. 7] for "a highly dynamic, ever changing picture,

subject to untold and unknown possibilities and combinations that were then

unpredictable," [FOOTNOTE: Ibid.] Congress created the Commission and

gave it the pervasive regulatory authority to deal with future circumstances,

issues and problems.

We are here today to continue our discharge of that mandate. We

intend to sit in on as much of these hearings as is consistent with our other

commitments. We will, in any event, review the transcripts and all other

presentations and we will do our best to study the problems, to listen to

informed opinion from all interested persons and to be conscious of the fact

that we continue to deal with "a highly dynamic and ever changing picture."

Our first witnesses this morning are representatives of the Midwest

Stock Exchange.

SEC Rules Hearing Opening Statement

Prompt to Clone This SEC Rules Hearing Opening Statement

Apply this example's core structure, strategic pacing, and structural hierarchy directly to your own topic.

What are you generating today?

Johnson & Johnson Congressional Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Johnson & Johnson Congressional Opening Statement

Grenfell Inquiry Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Grenfell Inquiry Opening Statement

Aquilino Gonell Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Aquilino Gonell Opening Statement

Jay Bhattacharya Congressional Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Jay Bhattacharya Congressional Opening Statement

Ron Johnson Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Ron Johnson Opening Statement

Susan Monarez Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Susan Monarez Opening Statement

David Calhoun Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

David Calhoun Opening Statement

Qualcomm v. Apple Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Qualcomm v. Apple Opening Statement

Greg Brockman Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Greg Brockman Opening Statement

Anthropic Senate Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Anthropic Senate Opening Statement

Jack Clark Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Jack Clark Opening Statement

United Nations ECOSOC Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

United Nations ECOSOC Opening Statement

NASA Budget Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

NASA Budget Hearing Opening Statement

FTX Senate Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

FTX Senate Opening Statement

Capital Markets Fraud Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Capital Markets Fraud Hearing Opening Statement

Federal Trade Commission Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Federal Trade Commission Hearing Opening Statement

FTC Consumer Protection Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

FTC Consumer Protection Hearing Opening Statement

FTC Antitrust Hearings Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

FTC Antitrust Hearings Opening Statement

Federal Trade Commission Budget Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Federal Trade Commission Budget Hearing Opening Statement

Federal Trade Commission Oversight Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Federal Trade Commission Oversight Hearing Opening Statement

Amtrak Board Nomination Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Amtrak Board Nomination Hearing Opening Statement

Bank of Canada Senate Committee Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Bank of Canada Senate Committee Opening Statement

USMCA Congressional Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

USMCA Congressional Opening Statement

House Judiciary Committee Oversight Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

House Judiciary Committee Oversight Hearing Opening Statement

Supreme Court Confirmation Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Supreme Court Confirmation Hearing Opening Statement

Attorney General Confirmation Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Attorney General Confirmation Hearing Opening Statement

Civil Justice Reform Act Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Civil Justice Reform Act Hearing Opening Statement

AI Counterterrorism Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

AI Counterterrorism Opening Statement

UAP Congressional Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

UAP Congressional Opening Statement

Coronavirus Pandemic Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Coronavirus Pandemic Hearing Opening Statement

Defense Confirmation Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Defense Confirmation Opening Statement

FBI Oversight Hearing Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

FBI Oversight Hearing Opening Statement

Robert F. Kennedy Jr. Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Robert F. Kennedy Jr. Opening Statement

Jerome H. Powell Banking Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Jerome H. Powell Banking Opening Statement

Jerome H. Powell Fed Nomination Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Jerome H. Powell Fed Nomination Opening Statement

Kristi Noem DHS Confirmation Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

Kristi Noem DHS Confirmation Opening Statement

John Ratcliffe CIA Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

John Ratcliffe CIA Opening Statement

William Long IRS Opening Statement - Free AI Opening Statement Generator, 50+ Real Opening Statement Examples

William Long IRS Opening Statement