The Securities Acts Amendments of 1975 is a U.S. federal law that amended the

Securities Act of 1933 The Securities Act of 1933, also known as the 1933 Act, the Securities Act, the Truth in Securities Act, the Federal Securities Act, and the '33 Act, was enacted by the United States Congress on May 27, 1933, during the Great Depression and afte ...

and the

Securities Exchange Act of 1934 The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (, codified at et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. A land ...

. It was enacted by the

94th United States Congress The 94th United States Congress was a meeting of the legislative branch of the United States federal government, composed of the United States Senate and the United States House of Representatives. It met in Washington, D.C., from January 3, 197 ...

and signed into law by President

Gerald Ford Gerald Rudolph Ford Jr. (born Leslie Lynch King Jr.; July 14, 1913December 26, 2006) was the 38th president of the United States, serving from 1974 to 1977. A member of the Republican Party (United States), Republican Party, Ford assumed the p ...

on June 4, 1975. The Securities Acts Amendments imposed an obligation on the

Securities and Exchange Commission The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market m ...

to consider the impacts that any new regulation would have on competition. The law also empowered the

(SEC) to establish a national market system and a system for nationwide clearance and settlement of securities transactions, enabling the SEC to enact

Regulation NMS Regulation National Market System (or Reg NMS) is a 2005 US financial regulation promulgated and described by the United States Securities and Exchange Commission, Securities and Exchange Commission (SEC) as "a series of initiatives designed to mod ...

, and created the Municipal Securities Rulemaking Board (MSRB), a

self-regulatory organization Self-regulation may refer to: *Emotional self-regulation *Self-control, in sociology/psychology *Self-regulated learning, in educational psychology *Self-regulation theory (SRT), a system of conscious personal management *Industry self-regulation, ...

that writes investor protection rules and other rules regulating

broker-dealer In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and ...

s and

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

s in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

municipal securities market.

References

See also