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Sunday, July 28, 2019 4:26:27 PM
FINRA, a self-regulatory organization, promulgates rules that govern broker-dealers and certain other professionals in the securities industry. It was formed when the enforcement divisions of the National Association of Securities Dealers (NASD), now FINRA, and of the New York Stock Exchange merged into one organization. FINRA, like the stock exchanges and the Securities Investor Protection Corporation (SIPC), is overseen by the SEC, and in general FINRA's rules are subject to SEC approval.
All brokers and dealers registered with the SEC under 15 U.S.C. § 78o, with some exceptions, are required to be members of SIPC (pursuant to 15 U.S.C. § 78ccc) and are subject to its regulations.
The federal securities laws were largely created as part of the New Deal in the 1930s. There are five major federal securities laws:
Securities Act of 1933 – regulating distribution of new securities
Securities Exchange Act of 1934 – regulating trading securities, brokers, and exchanges
Trust Indenture Act of 1939 – regulating debt securities
Investment Company Act of 1940 – regulating mutual funds
Investment Advisers Act of 1940 – regulating investment advisers
You'll notice that NOT ONCE does it mention Wyoming SOS...
check it before you wreck it...LMAO
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