Federal Securities Legislation Flashcards

You may prefer our related Brainscape-certified flashcards:
1
Q

Requires registration of initial public offerings

A

Securities Act of 1933

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Prohibited financial institutions from consolidation and offering any combination of traditional commercial banking, investment banking (brokerage firms), and insurance

A

Glass-Steagall Act of 1933

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Requires companies with previously issued securities to keep information current; created the SEC to enforce securities laws; requires brokers and dealers to register with the SEC

A

Securities Exchange Act of 1934

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Brought the OTC market under the regulation of the SEC and called for self regulation of OTC securities dealers

A

Maloney Act of 1938

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

As amended in 1978, provides for the liquidation of hopelessly troubled firms and provides for the reorganization of troubled firms that might be able to survive

A

Federal Bankruptcy Act of 1938

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Extended securities laws to investment companies / mutual funds

A

Investment Company Act of 1940

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Requires registration for and regulates activities of investment advisers

A

Investment Advisers Act of 1940

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Made it clear that insurance was to be regulated at the state level as long as the states implemented and executed this regulation adequately

A

McCarren-Ferguson Act of 1945

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Established the Securities Investor Protection Corporation (SIPC); Insures customer’s accounts up to $500,000 in securities and cash, with a limit of $250,000 of cash coverage (in the event of the failure of a brokerage firm)

A

Securities Investor Protection Act of 1970

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Specified what constitutes the insider trading of securities and stiffened the penalties for engaging in such trading

A

Insider Trading and Securities Fund Enforcement Act of 1988

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Addresses the manners in which financial institutions manage the private information of individuals; released the Glass-Steagall Act of 1933

A

Gramm-Leach-Bliley Act of 1999

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Requires broker-dealers (among others) to have internal policies and procedures, and controls to meet the know your customer mandate as an effort against funding terrorism by money laundering

A

USA PATRIOT Act of 2001

How well did you know this?
1
Not at all
2
3
4
5
Perfectly