Securities Exchange Act of 1934

(redirected from Securities and Exchange Act of 1934)

Securities Exchange Act of 1934

Legislation that created the SEC, outlawing dishonest practices in the trading of securities.

Securities Exchange Act of 1934

Legislation in the United States that regulated broker-dealers and secondary trades on American stock exchanges. This Act also created the Securities and Exchange Commission to help it accomplish its goals. The act prohibited certain trades that would unfairly or dangerously manipulate prices. For example, the Act forbids churning, in which an investor makes both buy and sell orders through different brokers to create the impression of increased interest in the security and to raise the price. It was one of the most important regulatory laws that came out of the New Deal.

Securities Exchange Act of 1934

Landmark legislation that established the SEC and that gives it authority over proxy solicitation and registration of organized exchanges. In addition, the Act sets disclosure requirements for securities in the secondary market, regulates insider trading, and gives the Federal Reserve authority over credit purchases of securities. When established, the Act reflected an effort to extend and overcome shortcomings of the Securities Act of 1933. These two pieces of legislation are the basis of securities regulation in the twentieth century. See also Foreign Corrupt Practices Act, Williams Act.
References in periodicals archive ?
at 2877 ("[T]o ask what conduct [section] 10(b) of the Securities and Exchange Act of 1934, 15 U.S.C.A.
The company intends to file a Form 25 with the US Securities and Exchange Commission in approximately ten days to voluntarily withdraw from listing with the NYSE and to withdraw from registration under Section 12(b) of the Securities and Exchange Act of 1934, as amended.
Also on that date, E possessed material nonpublic information about M that would subject him to liability under Rule 10b-5 under the Securities and Exchange Act of 1934 ('34 Act) if E sold the shares while in possession of such information.
The Securities Act of 1933 and the Securities and Exchange Act of 1934 created the U.S.
402 amends the Securities and Exchange Act of 1934 to make it illegal for public companies to "extend or maintain credit, to arrange for the extension of credit, or to renew an extension of credit, in the form of a personal loan to or for any director or executive officer (or equivalent thereof) of that [company]."
Jett was ordered to cease and desist violations of sections of the Securities Act of 1933 and the Securities and Exchange Act of 1934, pay $8.21 million in disgorgement, pay a civil penalty of $200,000, and he was barred from association with a broker or dealer.
Insider trading was not a crime until passage of the Securities and Exchange Act of 1934, Section 10(b), which prohibits "fraud" in the sale of securities.
Examiner Guidance on the Review of Regulatory Reports, Considering the Provisions of the Securities and Exchange Act of 1934 (as amended by the Sarbanes-Oxley Act of 2002).
The committee report further states, "even more surprising, in the context of audits and reviews conducted under the Securities and Exchange Act of 1934, there is currently no clear statutory requirement that accountants retain the most basic work papers to support the conclusions reached and opinions expressed in their audits, much less more detailed records, to facilitate determinations by federal regulators and law enforcement officials of whether a corporation or its accountants tried to mislead the public, as in the Enron matter."
Microcaps with less than $125 million in annual revenue and smallcaps with less than $10 million in product revenue would be exempt from Section 404 as long as they adhere to the Securities and Exchange Act of 1934 audit committee standards and adopt a code of ethics to comply with Item 406 of Regulation S-K.
AJCA Section 907 applies to personal use by individuals subject to the requirements of Section 16(a) of the Securities and Exchange Act of 1934 with respect to the taxpayer, or would be subject if the taxpayer issued equity securities.
The deadlines for filing the reports--which include SEC Forms 3, Initial Statement of Beneficial Ownership of Securities; 4, Statement of Changes in Beneficial Ownership of Securities; and 5, Annual Statement of Beneficial Ownership of Securities--vary according to criteria specified in SEC rules related to the Securities and Exchange Act of 1934 (www.sec.gov/divisions/corpfin/forms/16rules.htm).

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