What the authorities take away with one hand, they sometimes give back with the other
The introduction of T+3 may have been far from popular among US companies but many are now taking up the quid pro quo offered by the SEC in exchange for faster settlement. That is, they are exploiting the opportunity to launch open availability or direct investment plans (Dips) for private shareholders.
A major concern about the introduction of T+3 (see Investor Relations, June 1995) was that it would move private investors into street names, making tracking and communicating with them virtually
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Janet Dignan
Janet Dignan is a graduate of Otago University in New Zealand, where she read philosophy. From 1979 to1982 she was head of information at Linklaters, with responsibility for internal and external information resources for its offices in London, Hong...
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