Securities Markets: Opportunities Exist to Enhance Investor Confidence and Improve Listing Program Oversight;Report to the Congress

摘要

The equity listing standards of the three largest U.S. securities markets-the American Stock Exchange (Amex), the Nasdaq Stock Market, Inc. (NASDAQ), and the New York Stock Exchange (NYSE)-have received heightened attention as part of efforts to restore investor confidence following the 2001 terrorist attacks and the unexpected corporate failures beginning that year. GAO was asked to discuss (1) the status of the Securities and Exchange Commission's (SEC) recommendations to the three largest markets for improving their equity listing programs, (2) SEC's oversight of NASDAQ's moratorium on the enforcement of certain of its listing standards and the status of affected listed companies (issuers), and (3) actions the three largest markets have taken to strengthen corporate governance.