State Securities Official Warns of Online Trading, Investing

By Potts, Gregory | THE JOURNAL RECORD, March 9, 1999 | Go to article overview

State Securities Official Warns of Online Trading, Investing


Potts, Gregory, THE JOURNAL RECORD


Irving Faught, administrator of the Oklahoma Securities Commission, wants people to be aware of the risks of online investing and trading.

"There is no question that the Internet and online investing have leveled the playing field between Wall Street and Main Street and driven transaction costs down," said Faught. "However, investors need to understand that technology is not infallible, particularly in start-up industry. Investors also need to recognize that there is a big difference between online investing and online trading."

Faught urged investors not to be confused by the allure of quick profits from online trading. "Profiting from day trading takes special training and happens to only a lucky few skilled securities professionals," said Faught. An estimated 7.5 million investors have online brokerage accounts, and the number is expected to top 10 million next year. As a result of the dramatic growth in online brokerage accounts, investors have recently experienced some much-publicized outages and computer glitches at major online brokerage firms. The U.S. Securities and Exchange Commission Chairman Arthur Levitt recently warned investors that they can end up paying more for a stock than they thought because of system delays and wild price swings. Four members of the U.S. House Commerce Committee sent a letter to the SEC stating their concern about whether there are adequate measures to regulate online investing. They also asked the General Accounting Office to look into doing a report on these activities. There is currently an investigation in New York into online trading firms to discover, among other things, details about their technology capacity, contingency plans, customer complaints and how orders are processed and executed. People Quail Creek Bank has named William Dubberstein a vice president in the commercial lending department. The 40-years area banking veteran began his banking career at Will Rogers Bank. He was at Charter Bank previous to coming to Quail Creek. Will Rogers has promoted Royce G. Wilmouth to vice president and loan officer of its Moore branch. Wilmouth brings more than 30 years of experience in the financial industry to Will Rogers, having served 16 years in Moore. MidFirst Bank has named Brad Brantley a mortgage account executive for the north Oklahoma City area. In his new role, Brantley will address the mortgage lending needs of customers at eight MidFirst offices in north Oklahoma and Edmond. Brantley previously served as a commercial real estate loan analyst for MidFirst's income property division, and as a claims reviewer for Default Management of Midland Mortgage, sister company of MidFirst. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

State Securities Official Warns of Online Trading, Investing
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.