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Paper crisis shakes brokerage houses in late 1929 reforms
The stock brokerage industry struggles to clear a growing backlog of overdue certificates amid rising trading volume. Exchanges push modernization includes a Central Certificate Service, tighter self regulation, and restricted brokers as Lee Arning warns progress remains limited while long term gains loom.
MENTIONED IN THIS ARTICLE
John Cunniff
New York
Lee D. Arning
New York Stock Exchange
New York Exchange
Cuse Tomer