For investors, on "May Day"
A) commissions were doubled.
B) commissions became no longer fixed.
C) all firms had to charge the same commission.
D) were first allowed to hold stock in "street name."

Question

Quizplus · Accepted Answer

On "May Day," which refers to May 1, 1975, the U.S. Securities and Exchange Commission mandated that commissions for trading stocks were no longer fixed, allowing for competition on commission rates among brokerage firms.

For Investors, on "May Day