Independent Survey Sought Of Institutional Stock Deals
NEW YORK, March 1ÛÓ| While the Securities and I Exchange Commission waits! for congressional action on its proposed study of institutional trading in the stock market, groups in and out of the securities industry are continuing work on plans for an independent</br></br>Groundwork for an outside study has been under way for several monthsÛÓeven before the idea of an SEC project was suggested by Rep. John E. Moss (D.-Calif.) during hearings on the mutual fund reform bill last October. So far, none of the plans has been given a clear go-ahead and the ,earliest likely starting date is said to be early fall.</br></br>Securities industry people here have made no secret of their desire to sec the study done by an outside organization. Last Novermber New York Stock Exchange president Robert W. Haack told the Harvard Business School Club that the project should not be done by the industry, since it might be considered self-serving. He also said it should not</br></br>Other indusrty executives, while admitting the usefulness of an institutional study, have also expressed discomfort over having the survey conducted by the SEC, conjuring up visions of the mammoth 1963 special study of securities markets.</br></br>The concept of an outside study, with information being ;supplied by both the SEC and the industry, has run into several snags.