Ch 2 Flashcards
1
Q
What are the tiers of regulation?
A
1) Federal laws
2) State laws
3) SRO (self-regulatory organisation) rules and regulations
4) Firm-specific (in-house) policies and procedures
2
Q
Federal securities Acts are synonymous with…
A
Laws
3
Q
Federal securities Acts are passed by whom?
A
Congress
4
Q
Who enforces federal securities Acts?
A
SEC (Securities and Exchange Commission), part of the US government.
5
Q
SEC
A
Securities and Exchange Commission
Independent federal agency responsible for:
* Protecting investors
* Maintaining fair and orderly securities trading markets
* Facilitating capital formation in the primary market
* Ensuring Congress’ demands are implemented
6
Q
What does the SEC have jurisdiction over?
A
Interstate trade of securities transactions
7
Q
A
8
Q
A
