1 янв 1934 г. - Securities and Exchange Commission Founded

Описание:

SEC: A commission established by Congress in 1934 to regulate the stock market. The commission had broad powers to determine how stocks and bonds were sold to the public, and to prevent insider trading.


As New Dealers waited anxiously for signs of economic revival, Roosevelt turned his attention to reforming Wall Street, where reckless speculation and overleveraged buying of stocks had helped trigger the financial panic of 1929. In 1934, Congress established the Securities and Exchange Commission (SEC) to regulate the stock market. The commission had broad powers to determine how stocks and bonds were sold to the public, and to prevent insider trading. The Banking Act of 1935 authorized the president to appoint a new Board of Governors of the Federal Reserve System, placing control of interest rates and other money-market policies under a federal agency based in Washington rather than private bankers around the country. These initiatives represented an unprecedented centralization of financial regulation and management in the national government.

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