History
Section 211 of The Securities Exchange Act of 1934 mandated that the SEC conduct various studies. Although not expressly required to study the trustee system then in use for the issuance of debt securities, SEC Chairman William O. Douglas was convinced by November 1934 that the system required legislative reform. In June, 1936, the Protective Committee Study "Trustees Under Indentures" was published.
Read more about this topic: Trust Indenture Act Of 1939
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