LANDIS PRESENTS S.E.C. FOR BOSTON AUDIENCE

James M. Landis, Chairman of the Securities Exchange Commission and Dean designate of the Law School, outlined the activities and objectives of the Commission in a speech last night before the City Club of Boston. Questioned on his advent to the Law School, Landis said that he will be glad to come, as he will have more time to think than at present.

Paramount among the Commission's objectives as explained by Landis, are improvement of corporate practices, subordination of the role of speculation in national life, and making the investment process intelligible to the investor. Its reports aim not to give financial advice, but to furnish a means for the buyer himself to invest intelligently.

Wide Activity

Work of the Commission, said Landis, falls into three main divisions: control of the issuance of new securities, control of established securities and control of exchanges to insure fair play by both investor and trustee. Due to false reports, shoddy accounting, and inability to force reports in many cases, the disclosure of security fraud is more difficult than checking evil exchange practices.

Although Landis feels that the Commission has not been a sufficient check on securities, results of the work show possibility of permanent good: decline of manipulation and other frandulencies, improvement in accounting, and development of sales resistance in the investor.