Show LICENSE ON EXCHANGES Federal Fe eral Regulation of Stock Trading Institutions Planned 4 1 11 i WASHINGTON Jan 27 JP IP P f federal deral re regulation of ot the nations nation's exchanges through a license System and a federal administrator administrate was was re recommended to congress by p Roosevelt's committee committe in a report made mad today by the senate banking bankin committee I Chairman Fletcher gave out the letter Jetter from Secretary Roper chair chairman man of the committee recommend fri trig iriC the regulatory legislation to the president 4 The Tho committee proposed a law to require all exchanges to operate and the creation crea t Under tinder a federal license r f tion o of an administrator with broad discretionary powers power to require the exchanges to adopt and enforce rules and nd regulations ih in the form torm salis- salis factory to the administrative agency and and nd of ot such a 1 character as to Itch lish a minimum standard of fair deal dral dealings in ings Ingi on such exchanges Fletcher did not make public tIe the detailed report itself but said It Jt laid a large part of the responsibility for forthe the depression at It the door of ot th the f exchanges and the speculation which J took on them |