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New Deal Project

New Deal Project. Securities and Exchange Commission(SEC ) Banking Act of 1935. What is the Securities And Exchange Commission - SEC.

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New Deal Project

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  1. New Deal Project Securities and Exchange Commission(SEC) Banking Act of 1935

  2. What is the Securities And Exchange Commission - SEC • A government commission created by Congress to regulate the securities markets and protect investors. The SEC is composed of five commissioners appointed by the U.S. President and approved by the Senate.

  3. The SEC includes the power to register, regulate, and oversee brokerage firms, transfer agents, and clearing agencies. They “protected” the New York Stock Exchange, and American Stock Exchange. • The Act also identifies and prohibits certain types of conduct in the markets and provides the Commission with disciplinary powers over regulated entities and persons associated with them.

  4. Companies with more than $10 million in assets whose securities are held by more than 500 owners must file annual and other periodic reports. • The securities laws broadly prohibit fraudulent activities of any kind in connection with the offer, purchase, or sale of securities.

  5. Banking Act of 1935 • The Banking Act of 1935 strengthened the powers of the Federal Reserve Board of Governors in the field of credit management, tightened existing restrictions on banks engaging in certain activities, and enlarged the supervisory powers of the FDIC.

  6. In 1933, the Federal Deposit Insurance Corporation (FDIC) was initially established by the Banking Act of in response to the depression era closure of banks.In 1935, the FDIC was made a permanent agency of the federal government.

  7. It further provided that the stock of the FDIC was to be purchased by the Secretary of the Treasury on behalf of the United States, and that the deposit insurance system was to be maintained through assessments directly on the insured institutions.

  8. Sources • http://www.investopedia.com/terms/s/sec.asp#axzz1kQrlnAUG • http://www.sec.gov/about/whatwedo.shtml • http://www.infoplease.com/ce6/bus/A0856839.html • http://www.csbs.org/bankinglaw101/Wiki%20Pages/Banking%20Act%20of%201935.aspx

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