RegulationsPregunta 45 de 110
The Securities Exchange Act of 1934 is best known for:
a.Requiring a prospectus for every new issue of securities
b.Creating the SEC and regulating the secondary market, broker-dealers, and exchanges
c.Defining the three classes of investment companies
d.Establishing IRA contribution limits
Explicación
The 1934 Act created the SEC and gave it authority over trading markets, broker-dealer registration, reporting by public companies, and market manipulation. New-issue prospectus requirements belong to the 1933 Act, investment company classifications to the 1940 Act, and IRA rules to the Internal Revenue Code.
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- Registration of a securities offering with the SEC means that:
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- Before a newly formed open-end fund may offer shares to the public, the Investment Company Act of 1940 requires it to have:
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