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Capital Markets Law
Securities regulation in the United States is the field of U.S. law that covers transactions and other dealings with securities. The term is usually understood to include both federal and state-level regulation by governmental regulatory agencies, but sometimes may also encompass listing requirements of exchanges like the New York Stock Exchange and rules of self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA). On the federal level, the primary securities regulator is the Securities and Exchange Commission (SEC). Futures and some aspects of derivatives are regulated by the Commodity Futures Trading Commission (CFTC). Understanding and complying with security regulation helps businesses avoid litigation with the SEC, state security commissioners, and private parties. Failing to comply can even result in criminal liability.Steinberg, Marc (2009). ''Understanding Securities Law''. LEXISNEXIS. . Overview The SEC was created by the Securities Exchang ...
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Financial Industry Regulatory Authority (FINRA) (48126619532)
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. The U.S. government agency that acts as the ultimate regulator of the U.S. securities industry, including FINRA, is the U.S. Securities and Exchange Commission (SEC). Overview The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect investors by making sure the United States securities industry operates fairly and honestly. In December 2019, FINRA oversaw 3,517 brokerage firms, 153,907 branch offices and approximately 624,674 registered securities representatives. FINRA has ap ...
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Investment Company Act Of 1940
The Investment Company Act of 1940 (commonly referred to as the '40 Act) is an act of Congress which regulates investment funds. It was passed as a United States Public Law () on August 22, 1940, and is codified at . Along with the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, and extensive rules issued by the U.S. Securities and Exchange Commission; it is central to financial regulation in the United States. It has been updated by the Dodd-Frank Act of 2010. It is the primary source of regulation for mutual funds and closed-end funds, now a multi-trillion dollar investment industry. The 1940 Act also impacts the operations of hedge funds, private equity funds and even holding companies. History Following the founding of the mutual fund in 1924, investors invested in this new investment vehicle heavily. Five and a half years later, the Wall Street Crash of 1929 occurred in the stock market, followed shortly thereafter by the United States entry into ...
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Blue Sky Law
A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms. Each state's blue sky law is administered by its appropriate regulatory agency, and most also provide private causes of action for private investors who have been injured by securities fraud. The first blue sky law was enacted in Kansas in 1911 at the urging of its banking commissioner, Joseph Norman Dolley, and served as a model for similar statutes in other states. Between 1911 and 1933, 47 states adopted blue-sky statutes (Nevada was the lone holdout). Today, the blue sky laws of 40 of the 50 states are patterned after the Uniform Securities Act of 1956. Historically, the federal securities laws and the state blue sky laws complemented and often duplicated ...
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Crowd Outside Nyse
Generally speaking, a crowd is defined as a group of people that have gathered for a common purpose or intent such as at a demonstration, a sports event, or during looting (this is known as an acting crowd), or may simply be made up of many people going about their business in a busy area. The term "the crowd" may sometimes refer to the lower orders of people in general. Terminology The term "crowd" is sometimes defined in contrast to other group nouns for collections of humans or animals, such as aggregation, audience, group, mass, mob, populous, public, rabble and throng. Opinion researcher Vincent Price compares masses and crowds, saying that "Crowds are defined by their shared emotional experiences, but masses are defined by their interpersonal isolation."Public Opinion By Carroll J. Glynn, Susan Herbst, Garrett J. O'Keefe, Robert Y. Shapiro In human sociology, the term "mobbed" simply means "extremely crowded", as in a busy mall or shop. "Mobbing", carries a more nega ...
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Ferdinand Pecora
Ferdinand Pecora (January 6, 1882 – December 7, 1971) was an American lawyer and New York State Supreme Court judge who became famous in the 1930s as Chief Counsel to the United States Senate Committee on Banking and Currency during its investigation of Wall Street banking and stock brokerage practices. Early life Ferdinand Pecora was born in Nicosia, Sicily, the son of Louis Pecora and Rosa Messina, who emigrated to the United States in 1886. He grew up in Chelsea, Manhattan. After briefly studying for the Episcopal ministry, Pecora attended St. Stephen's College (now Bard College) and the City University of New York before he was forced to leave school when his father was injured in an industrial accident. Career After securing a job as a clerk in a Wall Street law firm, Pecora eventually attended New York Law School and became a member of the New York bar in 1911. New York City public prosecution Originally a Progressive Republican, he became a member of the Democratic P ...
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Pecora Commission
The Pecora Investigation was an inquiry begun on March 4, 1932, by the United States Senate Committee on Banking and Currency to investigate the causes of the Wall Street Crash of 1929. The name refers to the fourth and final chief counsel for the investigation, Ferdinand Pecora. His exposure of abusive practices in the financial industry galvanized broad public support for stricter regulations. As a result, the U.S. Congress passed the Glass–Steagall Banking Act of 1933, the Securities Act of 1933, and the Securities Exchange Act of 1934. History Following the 1929 Wall Street Crash, the U.S. economy had gone into a depression, and a large number of banks failed. The Pecora Investigation sought to uncover the causes of the financial collapse. As chief counsel, Ferdinand Pecora personally examined many high-profile witnesses, who included some of the nation's most influential bankers and stockbrokers. Among these witnesses were Richard Whitney, president of the New York Stock ...
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New Deal
The New Deal was a series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939. Major federal programs agencies included the Civilian Conservation Corps (CCC), the Works Progress Administration (WPA), the Civil Works Administration (CWA), the Farm Security Administration (FSA), the National Industrial Recovery Act of 1933 (NIRA) and the Social Security Administration (SSA). They provided support for farmers, the unemployed, youth, and the elderly. The New Deal included new constraints and safeguards on the banking industry and efforts to re-inflate the economy after prices had fallen sharply. New Deal programs included both laws passed by Congress as well as presidential executive orders during the first term of the presidency of Franklin D. Roosevelt. The programs focused on what historians refer to as the "3 R's": relief for the unemployed and for the poor, recovery ...
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First 100 Days Of Franklin D
First or 1st is the ordinal form of the number one (#1). First or 1st may also refer to: *World record, specifically the first instance of a particular achievement Arts and media Music * 1$T, American rapper, singer-songwriter, DJ, and record producer Albums * ''1st'' (album), a 1983 album by Streets * ''1st'' (Rasmus EP), a 1995 EP by The Rasmus, frequently identified as a single * ''1ST'', a 2021 album by SixTones * ''First'' (Baroness EP), an EP by Baroness * ''First'' (Ferlyn G EP), an EP by Ferlyn G * ''First'' (David Gates album), an album by David Gates * ''First'' (O'Bryan album), an album by O'Bryan * ''First'' (Raymond Lam album), an album by Raymond Lam * ''First'', an album by Denise Ho Songs * "First" (Cold War Kids song), a song by Cold War Kids * "First" (Lindsay Lohan song), a song by Lindsay Lohan * "First", a song by Everglow from '' Last Melody'' * "First", a song by Lauren Daigle * "First", a song by Niki & Gabi * "First", a song by Jonas Brot ...
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Wall Street Crash Of 1929
The Wall Street Crash of 1929, also known as the Great Crash, was a major American stock market crash that occurred in the autumn of 1929. It started in September and ended late in October, when share prices on the New York Stock Exchange collapsed. It was the most devastating stock market crash in the history of the United States, when taking into consideration the full extent and duration of its aftereffects. The Great Crash is mostly associated with October 24, 1929, called ''Black Thursday'', the day of the largest sell-off of shares in U.S. history, and October 29, 1929, called ''Black Tuesday'', when investors traded some 16 million shares on the New York Stock Exchange in a single day. The crash, which followed the London Stock Exchange's crash of September, signaled the beginning of the Great Depression. Background The "Roaring Twenties", the decade following World War I that led to the crash, was a time of wealth and excess. Building on post-war optimism, rural Amer ...
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Blue Sky Law
A blue sky law is a state law in the United States that regulates the offering and sale of securities to protect the public from fraud. Though the specific provisions of these laws vary among states, they all require the registration of all securities offerings and sales, as well as of stockbrokers and brokerage firms. Each state's blue sky law is administered by its appropriate regulatory agency, and most also provide private causes of action for private investors who have been injured by securities fraud. The first blue sky law was enacted in Kansas in 1911 at the urging of its banking commissioner, Joseph Norman Dolley, and served as a model for similar statutes in other states. Between 1911 and 1933, 47 states adopted blue-sky statutes (Nevada was the lone holdout). Today, the blue sky laws of 40 of the 50 states are patterned after the Uniform Securities Act of 1956. Historically, the federal securities laws and the state blue sky laws complemented and often duplicated ...
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Jumpstart Our Business Startups Act
The Jumpstart Our Business Startups Act, or JOBS Act, is a law intended to encourage funding of small businesses in the United States by easing many of the country's securities regulations. It passed with bipartisan support, and was signed into law by President Barack Obama on April 5, 2012. Title III, also known as the CROWDFUND Act, has drawn the most public attention because it creates a way for companies to use crowdfunding to issue securities, something that was not previously permitted. Title II went into effect on September 23, 2013. On October 30, 2015, the SEC adopted final rules allowing Title III equity crowdfunding. These rules went into effect on May 16, 2016; this section of the law is known as Regulation CF. Other titles of the Act had previously become effective in the years since the Act's passage. Legislative history Following a decrease in small business activity in the wake of the 2008 financial crisis, Congress considered a number of solutions to help spu ...
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Dodd–Frank Wall Street Reform And Consumer Protection Act
The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Recession, and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry. Responding to widespread calls for changes to the financial regulatory system, in June 2009, President Barack Obama introduced a proposal for a "sweeping overhaul of the United States financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression". Legislation based on his proposal was introduced in the United States House of Representatives by Congressman Barney Frank (D-MA) and in the United States Senate by Senator Chris Dodd (D-CT). Most congressional support for Dodd–Frank came from members of the Democratic Party; three Senate Re ...
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