The Federal Securities Code

In this keynote address for the Fourth Annual Baron de Hirsch Meyer Lecture Series, Professor Loss describes the process and philosophy underlying the proposed Federal Securities Code. In addition, he outlines a few of the major substantive changes made by the Code in contrast to present securities regulation and closes with a discussion of the prospects of the Code as it moves toward consideration by Congress

The Federal Securities Code

In this keynote address for the Fourth Annual Baron de Hirsch Meyer Lecture Series, Professor Loss describes the process and philosophy underlying the proposed Federal Securities Code. In addition, he outlines a few of the major substantive changes made by the Code in contrast to present securities regulation and closes with a discussion of the prospects of the Code as it moves toward consideration by Congress

The SEC and the Broker-Dealer

A couple of weeks ago the Commission handed down an opinion in a broker-dealer revocation proceeding which is the latest in a series of cases over the past few years that have gradually blocked out the duties of a broker-dealer to his customer. That case gives me my theme today. It happens that most of what I am about to say relates primarily to the over-the-counter market. I was a little disturbed about the propriety of talking about over-the-counter problems under the auspices of this organization. However, we are all interested, I take it, in the problems of the securities industry as a whole, and I was anxious, if possible, to give you something newsworthy. What I shall try to do today, therefore, is to trace briefly the history of the several doctrines which the Commission has developed with reference to the duties of a broker-dealer and summarize their present status. I want to emphasize that I am not here to preach or moralize, but only to expound. I realize that it may be just as hard to tell the difference between preaching and expounding as it sometimes is to determine whether a firm is acting as a broker or as a dealer, but I honestly want to limit myself to putting the mosaic together for you

Excess Spin and the Dynamics of Antiferromagnetic Ferritin

Temperature-dependent magnetization measurements on a series of synthetic ferritin proteins containing from 100 to 3000 Fe(III) ions are used to determine the uncompensated moment of these antiferromagnetic particles. The results are compared with recent theories of macroscopic quantum coherence which explicitly include the effect of this excess moment. The scaling of the excess moment with protein size is consistent with a simple model of finite size effects and sublattice noncompensation.Comment: 4 pages, 3 Postsript figures, 1 table. Submitted to PR

Shot Noise in Mesoscopic Conductors

Theoretical and experimental work concerned with dynamic fluctuations has developed into a very active and fascinating subfield of mesoscopic physics. We present a review of this development focusing on shot noise in small electric conductors. Shot noise is a consequence of the quantization of charge. It can be used to obtain information on a system which is not available through conductance measurements. In particular, shot noise experiments can determine the charge and statistics of the quasiparticles relevant for transport, and reveal information on the potential profile and internal energy scales of mesoscopic systems. Shot noise is generally more sensitive to the effects of electron-electron interactions than the average conductance. We present a discussion based on the conceptually transparent scattering approach and on the classical Langevin and Boltzmann-Langevin methods; in addition a discussion of results which cannot be obtained by these methods is provided. We conclude the review by pointing out a number of unsolved problems and an outlook on the likely future development of the field.Comment: 99 two-column pages; 38 .eps figures included. Submitted to Physics Reports. Many minor improvements; typos corrected; references added and update