Poly Financial Reg 2 - Securities Markets Firms...

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4/6/10 Securities Markets Firms participating in securities business Broker is any person engaged in the business of effecting transactions in securities for the account of others Dealer is any person engaged in the business of buying and selling securities for his own account, through a broker or otherwise.
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4/6/10 Securities and Exchange Commission During the 1920s, period of credit expansion and speculation in stock market Of the $50 billion in new securities offered during this period, half became worthless Need to restore faith in markets after October 1929 Stock Crash
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4/6/10 Securities and Exchange Commission “Unlike the banking world, where deposits are guaranteed by the federal government, stocks, bonds and other securities can lose value. There are no guarantees” “All investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to
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4/6/10 Securities and Exchange Commission Independent federal agency Five presidentially-appointed Commissioners with five-year One Commissioner is designated by the President as Chairman of the Commission — the agency's chief executive Non partisanship: no more than three
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4/6/10 Securities and Exchange Commission SEC oversees the key participants in the securities world Securities exchanges Securities brokers and dealers Investment advisors Mutual funds SEC is concerned primarily with Promoting the disclosure of important
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4/6/10 Securities and Exchange Commission Interprets federal securities laws Issues new rules and amend existing rules Oversee the inspection of securities firms, brokers, investment advisers, and ratings agencies Oversee private regulatory organizations in the securities,
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4/6/10 Federal Securities Law Statutes The Securities Act of 1933 Governs issuance of securities by companies The Securities Exchange Act of 1934
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Poly Financial Reg 2 - Securities Markets Firms...

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