Monday, April 27, 2009

regulation of security markets (2)

The Bankruptcy Act of 1938 specified that the commission should advice the court in any reorganization of firm under Chapter X whenever there is substantial public interest in the firm is securities. The trust indenture Act of 1939 gave the Commission power to insure that bond indenture trustees were free from conflict of interest. The investment Company Act of 1940 extended disclosure and registration requirements to investment Company Act of 1940 extended disclosure and registration requirements to investment companies. the investment Advisers Act of 1940 required the registration of most advisers and the disclosure of any potential conflicts of interest of interest.
The securities Investor protection Act of 1970 provided for the coverage of losses in the event of failure of a brokerage firm.

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