WASHINGTON - President Clinton signed legislation Friday that permanently extends the Treasury Department's authority to regulate government securities and sets new requirements for dealers.
The law authorizes the Treasury to adopt a large position reporting rule for dealers and other market participants.
It also allows the National Association of Securities Dealers to set sales practice rules for dealers and strengthens the authority of the Security and Exchange Commission, requiring dealers to provide records of trades for investigations. The SEC is also directed to monitor the availability of price information that dealers get from private screen services.
