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Employee Privacy: Computer-Use Monitoring Practices and Policies of Selected Companies (open access)

Employee Privacy: Computer-Use Monitoring Practices and Policies of Selected Companies

A letter report issued by the General Accounting Office with an abstract that begins "Over the past decade, there has been a technological revolution in the workplace as businesses have increasingly turned to computer technology the primary tool to communicate, conduct research, and store information. Also during this time, concern has grown among private sector employers that their computer resources may be abused by employees--either by accessing offensive material or jeopardizing the security of proprietary information--and may provide an easy entry point into a company's electronic systems by computer trespassers. As a result, companies have developed "computer conduct" policies and implement strategies to monitor their employees' use of e-mail, the Internet, and computer files. Federal and state laws and judicial decisions have generally given private sector companies wide discretion in their monitoring and review of employee computer transmissions. However, some legal experts believe that these laws should be more protective of employee privacy by limiting what aspects of employee computer use employers may monitor and how they may do so. Following the September 11, 2001, terrorist attacks on the United States, policymakers re-examined many privacy issues as they debated the USA PATRIOT Act, which expands the federal government's authority to …
Date: September 27, 2002
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Defense Inventory: Navy Logistics Strategy and Initiatives Need to Address Spare Parts Shortages (open access)

Defense Inventory: Navy Logistics Strategy and Initiatives Need to Address Spare Parts Shortages

A letter report issued by the General Accounting Office with an abstract that begins "Since 1990, GAO has identified DOD inventory management as high risk because of long-standing management weaknesses. In fiscal years 2001 and 2002, Congress provided the Navy with more than $8 billion in operations and maintenance funds to purchase spare parts in support of the service's operations. Nevertheless, spare parts availability has fallen short of the Navy's goals in recent years. GAO examined the extent to which Navy strategic plans address mitigation of critical spare parts shortages, the likelihood that key supply system improvement initiatives will help mitigate spare parts shortages and enhance readiness, and the Navy's ability to identify the impact on readiness of increased spare parts investments."
Date: June 27, 2003
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Public Transportation: Preliminary Information on FTA's Implementation of SAFETEA-LU Changes (open access)

Public Transportation: Preliminary Information on FTA's Implementation of SAFETEA-LU Changes

Testimony issued by the Government Accountability Office with an abstract that begins "The Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU) authorized a significant level of investment--over $52 billion--for federal transit programs. SAFETEA-LU also added new transit programs and made changes to existing programs, including the New Starts and Job Access and Reverse Commute (JARC) programs. The New Starts program is a discretionary grant program for public transportation capital projects. The JARC program is intended to improve the mobility of low-income individuals seeking work. SAFETEA-LU authorized $8.6 billion for these two programs. The Federal Transit Administration (FTA) manages both of these programs. This testimony discusses GAO's preliminary findings on the (1) changes SAFETEA-LU made to the New Starts program, (2) changes SAFETEA-LU made to the JARC program, and (3) issues that may be important as FTA moves forward with implementing the act. To address these objectives, GAO interviewed FTA officials, sponsors of New Starts projects, and representatives from industry associations and reviewed FTA's guidance on the New Starts and JARC programs and federal statutes, among other things."
Date: June 27, 2006
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Assessment of Public Law 106-303: The Role of Personnel Flexibilities in Strengthening GAO's Human Capital (open access)

Assessment of Public Law 106-303: The Role of Personnel Flexibilities in Strengthening GAO's Human Capital

Other written product issued by the General Accounting Office with an abstract that begins "Leading public organizations here and abroud have found that strategic human capital management must be the centerpiece of any serious change management initiative and effort to transform the culture of government agancies. GAO is not immune to these challenges facing the federal government. Over the past 3 years, however, we have made considerable progress toward addressing a number of our major human capital challenges through various initiatives. While many of the initiatives were administrative in nature, the additional flexibilities that the Congress authorized in Public Law 106-303 have helped to ensure that we have the right staff, with the right skills, in the right locations to better meet the needs of the Congress and the American people."
Date: June 27, 2003
Creator: United States. General Accounting Office.
Object Type: Text
System: The UNT Digital Library
U.S. Patent and Trademark Office: Hiring Efforts Are Not Sufficient to Reduce the Patent Application Backlog (open access)

U.S. Patent and Trademark Office: Hiring Efforts Are Not Sufficient to Reduce the Patent Application Backlog

Testimony issued by the Government Accountability Office with an abstract that begins "The U.S. Patent and Trademark Office (USPTO) helps protect U.S. competitiveness by granting patents for new ideas and innovations. Increases in the volume and complexity of patent applications have extended the time for processing them. Concerns continue about the agency's efforts to attract and retain qualified patent examiners who can meet the demand for patents and help reduce the growing backlog of unexamined patent applications. In 2007, GAO reported on (1) USPTO's process for making its annual hiring estimates and the relationship of these estimates to the patent application backlog; (2) the extent to which patent examiner hiring has been offset by attrition, and the factors that may contribute to this attrition; and (3) the extent to which USPTO's retention efforts align with examiners' reasons for staying with the agency. GAO recommended that USPTO comprehensively evaluate the assumptions it uses to establish its production goals. USPTO agreed to implement this recommendation once it determines the effect of recent initiatives designed to increase the productivity of the agency through a more efficient and focused patent examination process. This testimony is based on GAO's 2007 report, which was based in …
Date: February 27, 2008
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Redefining Retirement: Options for Older Americans (open access)

Redefining Retirement: Options for Older Americans

Testimony issued by the Government Accountability Office with an abstract that begins "In the 21st century our nation faces a growing fiscal imbalance. A demographic shift will begin to affect the federal budget in 2008 as the first baby boomers become eligible for Social Security benefits. This shift will increase as spending for federal health and retirement programs swells. Long-term commitments for these and other federal programs will drive a massive imbalance between spending and revenues that cannot be eliminated without tough choices and significant policy changes. Continued economic growth is critical and will help to ease the burden, but the projected fiscal gap is so great that it is unrealistic to expect that we will grow our way out of the problem. Early action to change existing programs and policies would yield the highest fiscal dividends and provide a longer period for prospective beneficiaries to make adjustments in their own planning. One of the potential policy changes is assisting older workers who want to stay in the workforce past retirement age. The Chairman and Ranking Member of the Senate Special Committee on Aging asked GAO to discuss demographic and labor force trends and the economic and fiscal need to …
Date: April 27, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Overseas Presence: More Work Needed on Embassy Rightsizing (open access)

Overseas Presence: More Work Needed on Embassy Rightsizing

A letter report issued by the General Accounting Office with an abstract that begins "The Department of State is leading an interagency assessment of staffing needs in U.S. embassies and consulates to improve mission effectiveness and reduce security vulnerabilities and costs. This process, called "rightsizing," was begun in response to the recommendations of the Overseas Presence Advisory Panel. In the aftermath of the August 1998 bombings of U.S. embassies in Africa, the Panel determined that overseas staffing levels had not been adjusted to reflect changing missions and requirements; thus, some embassies and consulates were overstaffed, and others were understaffed. The Panel recommended a rightsizing strategy to improve security by reducing the number of embassy staff at risk. The Panel also recommended the establishment of a permanent committee to regularly adjust the U.S. presence, and the adoption of explicit criteria to guide decisions on the size and location of posts. A State-led interagency committee conducted pilot studies at six embassies in 2000 to (1) develop a methodology for assessing staffing at embassies and consulates during the next five years and (2) recommend adjustments to staffing levels at the embassies studied. The interagency committee formed teams that visited U.S. embassies in Amman, …
Date: November 27, 2001
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Medicare Managed Care Plans: Many Factors Contribute to Recent Withdrawals; Plan Interest Continues (open access)

Medicare Managed Care Plans: Many Factors Contribute to Recent Withdrawals; Plan Interest Continues

A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on managed care plans' decisions to leave the Medicare program or to reduce the geographic areas that they serve, focusing on: (1) plans that receive capitated payments; (2) the patterns of plan and beneficiary participation in managed care; (3) factors associated with plans' decisions to enter or leave the Medicare Choice program; and (4) changes in plans' benefit packages and premiums."
Date: April 27, 1999
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Human Capital: Designing and Managing Market-Based and More Performance-Oriented Pay Systems (open access)

Human Capital: Designing and Managing Market-Based and More Performance-Oriented Pay Systems

Testimony issued by the Government Accountability Office with an abstract that begins "The federal government must have the capacity to plan more strategically, react more expeditiously, and focus on achieving results. Critical to the success of this transformation are the federal government's people--its human capital. Yet, in many cases the federal government has not transformed how it classifies, compensates, develops, and motivates its employees to achieve maximum results within available resources and existing authorities. A key question is how to update the federal government's compensation system to be market-based and more performance-oriented. To further the discussion of federal pay reform, GAO partnered with key human capital stakeholders to convene a symposium in March 2005 to discuss public, private, and nonprofit organizations' successes and challenges in designing and managing market-based and more performance-oriented pay systems. This testimony presents the strategies that organizations considered in designing and managing market-based and more performance-oriented pay systems and describes how they are implementing them."
Date: September 27, 2005
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Financial Management: Billions in Improper Payments Continue to Require Attention (open access)

Financial Management: Billions in Improper Payments Continue to Require Attention

A letter report issued by the General Accounting Office with an abstract that begins "As the steward of taxpayer dollars, the federal government is accountable for how its agencies and grantees spend funds. It is also responsible for safeguardingagainst improper payments, which include payments that should not have been madeor were made for incorrect amounts irrespective of whether the agency had effective controls in place. Reported estimates of improper payments total billions ofdollars annually. With billions of dollars at risk, agencies need to vigilantly safeguard those resources entrusted to them and assign a high priority to reducing fraud, waste, and abuse. In their fiscal year 1999 financial statement, 12federal agencies reported improper payments totalling $20.7 billion. A first step for some agencies will be to assess programs at risk and develope ways to identify, estimate, and report the nature and extent of improper payments annually. Without this fundamental knowledge, agencies will not be fully informed about the magnitude, trends, and types of payment errors occurring within their programs. Furthermore, most agencies will not be able to make informed cost-benefit decisions about strengthening their internal controls to minimize future improper payments or effectively develop goals and strategies to reduce them. In …
Date: October 27, 2000
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Transportation Infrastructure: Better Data Needed to Rate the Nation's Highway Conditions (open access)

Transportation Infrastructure: Better Data Needed to Rate the Nation's Highway Conditions

A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a legislative requirement, GAO provided information on federal and state efforts to assess the conditions of the nation's highways, focusing on: (1) the uses the Federal Highway Administration (FHwA), the states, and others make of the International Roughness Index to assess highway conditions; (2) the consistency and accuracy of state-reported data on highway roughness; and (3) FHwA's efforts to improve the data across states."
Date: September 27, 1999
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
DOD and VA: Preliminary Observations on Efforts to Improve Care Management and Disability Evaluations for Servicemembers (open access)

DOD and VA: Preliminary Observations on Efforts to Improve Care Management and Disability Evaluations for Servicemembers

Testimony issued by the Government Accountability Office with an abstract that begins "In February 2007, a series of Washington Post articles about conditions at Walter Reed Army Medical Center highlighted problems in the Army's case management of injured servicemembers and in the military's disability evaluation system. These deficiencies included a confusing disability evaluation process and servicemembers in outpatient status for months and sometimes years without a clear understanding about their plan of care. These reported problems prompted various reviews and commissions to examine the care and services to servicemembers. In response to problems at Walter Reed and subsequent recommendations, the Army took a number of actions and DOD formed a joint DOD-VA Senior Oversight Committee. This statement updates GAO's September 2007 testimony and is based on ongoing work to (1) assess actions taken by the Army to help ill and injured soldiers obtain health care and navigate its disability evaluation process; and to (2) describe the status, plans, and challenges of DOD and VA efforts to implement a joint disability evaluation system. GAO's observations are based largely on documents obtained from and interviews with Army, DOD, and VA officials. The facts contained in this statement were discussed with representatives from …
Date: February 27, 2008
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Clinical Labs: CMS and Survey Organization Oversight Is Not Sufficient to Ensure Lab Quality (open access)

Clinical Labs: CMS and Survey Organization Oversight Is Not Sufficient to Ensure Lab Quality

Testimony issued by the Government Accountability Office with an abstract that begins "Today's hearing focuses on oversight of clinical labs. The Clinical Laboratory Improvement Amendments of 1988 (CLIA) strengthened quality requirements for labs that perform tests to diagnose or treat disease. About 36,000 labs that perform certain complex tests must be surveyed biennially by a state survey agency, a state CLIA-exempt program, or a private accrediting organization. CMS oversees implementation of CLIA requirements, which includes determining the CLIA equivalency of the inspection requirements used by exempt states and accrediting organizations. GAO was asked to discuss (1) the quality of lab testing and (2) the adequacy of CLIA oversight. To examine these issues, GAO analyzed data on lab performance and reviewed the procedures used by CMS and survey organizations to implement CLIA and oversee lab performance. This testimony is based on the GAO report, Clinical Lab Quality: CMS and Survey Organization Oversight Should Be Strengthened, GAO-06-416 (June 16, 2006)."
Date: June 27, 2006
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Defense Transportation: Operational Support Airlift Requirements Are Not Sufficiently Justified (open access)

Defense Transportation: Operational Support Airlift Requirements Are Not Sufficiently Justified

A letter report issued by the General Accounting Office with an abstract that begins "Pursuant to a congressional request, GAO provided information on the Department of Defense's (DOD) operational support airlift aircraft requirement, focusing on: (1) whether the existing requirement for operational support airlift aircraft is linked to wartime needs; and (2) the process DOD used to determine its requirements for these aircraft."
Date: April 27, 2000
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Air Force Inventory: Parts Shortages Are Impacting Operations and Maintenance Effectiveness (open access)

Air Force Inventory: Parts Shortages Are Impacting Operations and Maintenance Effectiveness

A letter report issued by the General Accounting Office with an abstract that begins "Spare parts shortages on the three Air Force systems GAO reviewed have undermined the performance of assigned missions and the economy and efficiency of maintenance activities. Specifically, the Air Force did not meet its mission-capable goals for the E-3 or C-5 aircrafts during fiscal years 1996-2000, nor did it have enough F-100-220 engines to meet peacetime and wartime goals during that period. These shortages may also affect personnel retention. GAO recently reported that the lack of parts and materials to successfully complete daily job requirements was one of six major factors causing job dissatisfaction among military personnel. Item managers at the maintenance facilities often indicated that spare parts shortages were caused by the inventory management system underestimating the need for spare parts and by delays in the Air Force's repair process as a result of the consolidation of repair facilities. Other reasons included difficulties with producing or repairing parts, reliability of spare parts, and contracting issues. The Air Force and the Defense Logistics Agency have planned or begun many initiatives to alleviate shortages of the spare parts for the three systems GAO reviewed."
Date: June 27, 2001
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Influenza Pandemic: Plan Needed for Federal and State Response (open access)

Influenza Pandemic: Plan Needed for Federal and State Response

A letter report issued by the General Accounting Office with an abstract that begins "Public health experts have raised concerns about the ability of the nation's public health system to detect and respond to emerging infectious disease threats, such as pandemic influenza. Although vaccines are considered the first line of defense to prevent or reduce influenza-related illness and death, GAO found that they may be unavailable, in short supply, or ineffective for some portions of the population during the first wave of a pandemic. Federal and state influenza pandemic plans are in various stages of completion and do not completely or consistently address key issues surrounding the purchase, distribution, and administration of vaccines and antiviral drugs. Inconsistencies in state and federal policies could contribute to public confusion and weaken the effectiveness of the public health response."
Date: October 27, 2000
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
United Nations: Targeted Strategies Could Help Boost U.S. Representation (open access)

United Nations: Targeted Strategies Could Help Boost U.S. Representation

A letter report issued by the General Accounting Office with an abstract that begins "The United Nations (U.N.) and its affiliated entities face the dual challenge of attracting and retaining staff who meet the highest standards of efficiency, competence, and integrity while maintaining the international character of the organizations by ensuring equitable geographic balance in the workforce. Nevertheless, U.N. organizations have made slow progress in addressing U.S. concerns about underrepresentation, and, except for the U.N. secretariat in New York, the organizations with representation targets that GAO studied have not achieved equitable employment of Americans since 1992. Although the U.N. organizations are ultimately responsible for achieving fair geographic balance among its member countries, the State Department, in coordination with other U.S. agencies, plays a role in ensuring that the United States is fairly represented. U.N. organizations have not fully developed long-range workforce planning strategies, and neither State nor the U.N. agencies have formal recruiting and hiring action plans to improve U.S. representation in the U.N. system. Without these measures, the United States' ability to even maintain the number of Americans employed in the United Nations could be hampered."
Date: July 27, 2001
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Homeland Security: Better Use of Terrorist Watchlist Information and Improvements in Deployment of Passenger Screening Checkpoint Technologies Could Further Strengthen Security (open access)

Homeland Security: Better Use of Terrorist Watchlist Information and Improvements in Deployment of Passenger Screening Checkpoint Technologies Could Further Strengthen Security

Testimony issued by the Government Accountability Office with an abstract that begins "The December 25, 2009, attempted bombing of flight 253 raised questions about the federal government's ability to protect the homeland and secure the commercial aviation system. This statement focuses on the government's efforts to use the terrorist watchlist to screen individuals and determine if they pose a threat, and how failures in this process contributed to the December 25 attempted attack. This statement also addresses the Transportation Security Administration's (TSA) planned deployment of technologies for enhanced explosive detection and the challenges associated with this deployment. GAO's comments are based on products issued from September 2006 through October 2009 and selected updates in January 2010. For these updates, GAO reviewed government reports related to the December 25 attempted attack and obtained information from the Department of Homeland Security (DHS) and TSA on use of the watchlist and new technologies for screening airline passengers."
Date: January 27, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Defense Budget: Contingency Operations in the Balkans May Need Less Funding in Fiscal Year 2003 (open access)

Defense Budget: Contingency Operations in the Balkans May Need Less Funding in Fiscal Year 2003

A letter report issued by the General Accounting Office with an abstract that begins "From the end of the Persian Gulf War in February 1991 through May 2002, the Department of Defense (DOD) reported over $43.9 billion in incremental costs for its overseas contingency operations. These operations include the enforcement of no-fly zones, humanitarian assistance, and peace enforcement operations, as well as combating terrorism beginning in fiscal year 2001. The majority of these costs were incurred in the Balkans and Southeast Asia. In fiscal year 2002, U.S. military forces are continuing to participate in a number of contingency operations, primarily in the Balkans, Southwest Asia, and a number of locations that involve combating terrorism. The military services received a combination of funding provided in the DOD appropriations act for fiscal year 2002 and money remaining in previously funded contingency fund accounts. The services also took steps to reduce costs in order to keep them in line with available funding. Both the North Atlantic Treaty Organization and DOD plan to reduce troop levels in the Balkans during fiscal year 2003, which may reduce funding needs during the year. In Europe, the Army anticipates an overall reduction of 1,160 troops during fiscal …
Date: September 27, 2002
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
Recovery Act: Preliminary Observations on the Implementation of Broadband Programs (open access)

Recovery Act: Preliminary Observations on the Implementation of Broadband Programs

Testimony issued by the Government Accountability Office with an abstract that begins "Access to broadband service is seen as vital to economic, social, and educational development, yet many areas of the country lack access to, or their residents do not use, broadband. To expand broadband deployment and adoption, the American Recovery and Reinvestment Act (the Recovery Act) provided $7.2 billion to the Department of Commerce's National Telecommunications and Information Administration (NTIA) and the Department of Agriculture's Rural Utilities Service (RUS) for grants or loans to a variety of program applicants. The agencies must award all funds by September 30, 2010. This testimony provides preliminary information on the challenges NTIA and RUS face; the steps taken to address challenges; and the remaining risks in (1) evaluating applications and awarding funds and (2) overseeing funded projects. This statement is based on related ongoing work that GAO expects to complete in November. To conduct this work, GAO is reviewing relevant laws and program documents and interviewing agency officials and industry stakeholders. While this testimony does not include recommendations, GAO expects to make recommendations in its November report."
Date: October 27, 2009
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Welfare Reform: Improving State Automated Systems Requires Coordinated Federal Effort (open access)

Welfare Reform: Improving State Automated Systems Requires Coordinated Federal Effort

A chapter report issued by the General Accounting Office with an abstract that begins "GAO reviewed states' efforts to meet the information needs associated with welfare reform, with a focus on Temporary Assistance for Needy Families (TANF), focusing on the: (1) extent to which automated systems in selected states meet key information needs of programs that help low-income individuals with children obtain employment and become economically independent; (2) approaches states are using to develop or modify their automated systems to better meet these information needs; and (3) major obstacles states have encountered in working to improve their automated systems as well as the potential role of the federal government in helping overcome these obstacles."
Date: April 27, 2000
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library
National Transportation Safety Board: Issues Related to the 2010 Reauthorization (open access)

National Transportation Safety Board: Issues Related to the 2010 Reauthorization

Testimony issued by the Government Accountability Office with an abstract that begins "The National Transportation Safety Board (NTSB), whose reauthorization is the subject of today's hearing, plays a vital role in advancing transportation safety by investigating accidents, determining their causes, issuing safety recommendations, and conducting safety studies. To support the agency's mission, NTSB's Training Center provides training to NTSB investigators and others. NTSB's 2006 reauthorization legislation mandates an annual review by GAO, and from 2006 through 2008, GAO made 21 recommendations to NTSB that address its management, information technology (IT), accident investigation criteria, safety studies, and Training Center use. This testimony addresses NTSB's progress in implementing GAO's recommendations that it (1) follow leading management practices, (2) conduct aspects of its accident investigations and safety studies more efficiently, and (3) increase the use of its Training Center. The testimony also discusses (4) changes NTSB seeks in its 2010 reauthorization proposal. This testimony is based on GAO's assessment from July 2009 to January 2010 of plans and procedures NTSB developed to address these recommendations. NTSB provided technical comments that GAO incorporated as appropriate."
Date: January 27, 2010
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Defense Acquisitions: Future Combat System Risks Underscore the Importance of Oversight (open access)

Defense Acquisitions: Future Combat System Risks Underscore the Importance of Oversight

Testimony issued by the Government Accountability Office with an abstract that begins "The Army's Future Combat System (FCS) is a program characterized by bold goals and innovative concepts--transformational capabilities, system-of-systems approach, new technologies, a first-of-a-kind information network, and a total investment cost of more than $200 billion. As such, the FCS program is considered high risk and in need of special oversight and review. Today's testimony is based on work conducted over the past year in response to (1) the National Defense Authorization Act for Fiscal Year 2006, which requires GAO to report annually on the FCS acquisition; and (2) the John Warner National Defense Authorization Act for Fiscal Year 2007, which requires GAO to report on the role of the lead systems integrator in the Army's FCS program. Accordingly, this statement discusses (1) the business case for FCS to be successful and (2) the business arrangements for the FCS program."
Date: March 27, 2007
Creator: United States. Government Accountability Office.
Object Type: Text
System: The UNT Digital Library
Securities Operations: Update on Actions Taken to Address Day Trading Concerns (open access)

Securities Operations: Update on Actions Taken to Address Day Trading Concerns

A letter report issued by the General Accounting Office with an abstract that begins "Concerns arose in the late 1990s about day trading, particularly the use of questionable advertising to attract customers without fully disclosing or by downplaying the risks involved. Concerns were also raised that traders were losing large amounts of money. Day traders as a group and day trading firms have continued to evolve and are generally more experienced and sophisticated about securities markets and investing than was the case several years ago. Likewise, day trading firms' operations have evolved, and many have shifted their primary focus away from retail customers and toward attracting institutional customers, such as hedge funds and money market managers. Furthermore, more firms are likely to engage in proprietary trading activities through professional traders that trade the firms' own capital. Finally, although the number of day trading firms appears to have remained constant, several day trading firms have been acquired by other brokerages and market participants whose customers want the direct access to securities markets and market information that technology used by day trading firms provides. Since GAO's 2000 review, the Securities and Exchange Commission and the self-regulatory organizations have addressed many of the …
Date: November 27, 2001
Creator: United States. General Accounting Office.
Object Type: Report
System: The UNT Digital Library