The financial industry is one of the most highly regulated industries in the United States. Over the last 80 years, some of the most notable regulations enacted by Congress include the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940 (the “Advisers Act”), the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 and the Jumpstart Our Business Startups Act of 2012. These Acts generally consist of the most widely applicable regulations governing U.S securities firms and each regulation has corresponding rules that have been promulgated by the Securities and Exchange Commission (“SEC”). Combined, these rules and regulations are
commonly referred to as “federal securities laws.”
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