Maloney Act

(redirected from Maloney Act of 1938)

Maloney Act

1938 legislation amending the Securities Exchange Act that regulates the OTC market.
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Maloney Act

United States legislation passed in 1938 that allowed self-regulatory organizations to assist the SEC in some financial regulation. That is, the Maloney Act encouraged what was essentially a public-private partnership between the federal government and the financial industry. Currently, only FINRA is registered as such an organization under the Maloney Act.
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Maloney Act

A 1935 act that provides for the self-regulation of security brokers and dealers in the over-the-counter market. The only organization currently registered under the Act is the National Association of Securities Dealers, with approximately 5,000 members. As an incentive to join, members receive discounts on securities traded among themselves.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.