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- Title
APPLICABILITY OF THE FEDERAL SECURITIES LAWS TO PENSION AND PROFIT-SHARING PLANS.
- Authors
MUNDHEIM, ROBERT H.; HENDERSON, GORDON D.
- Abstract
The article discusses the applicability of the U.S. securities laws on the pension and profit-sharing plans. It reports that in 1962 the Chief Counsel of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) had objected to an announcement by the company Chase Manhattan Bank to allow self-employed persons in its profit-sharing and pension plans. It states that SEC is generally reluctant to apply the U.S. Securities Act to employee benefit plans that do not require sale of employer company securities to employees. According to it, the registration and disclosure provisions of the Securities Act must be applied to the offerings of plans under the Self-Employed Individual Tax Retirement Act of 1962 (H.R. 10) and commingled investments funds.
- Subjects
UNITED States; PROFIT-sharing; EMPLOYEE benefit laws; UNITED States. Securities &; Exchange Commission; COMMINGLED funds (Mutual funds); PENSION trusts; KEOGH plans; FREELANCERS; SECURITIES; CHASE Manhattan Bank (Company)
- Publication
Law & Contemporary Problems, 1964, Vol 29, Issue 3, p795
- ISSN
0023-9186
- Publication type
Article
- DOI
10.2307/1190558