National Securities Markets Improvement Act of 1996

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National Securities Markets Improvement Act of 1996

Legislation in the United States that exempted many securities, notably those nationally registered, from state registration and regulation. The Act was intended to streamline the process of registering and offering new issues of securities, which was thought to spur investment. See also: Deregulation.
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The effect of this recent law--the National Securities Markets Improvement Act of 1996 (NSMIA)[1]--on private placements in Florida is illustrated by the following hypothetical:
The SEC is required under the National Securities Markets Improvement Act of 1996 (HR 3005) to examine alternatives that would further privatize EDGAR.

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