FINRA SIE Regulatory (All solved)

The 1933 Securities Act, or the "Paper Act," correct answers is often referred to as the "truth in securities" law. It requires prospectus and full disclosure filings for all new issues (primary market) of securities considered nonexempt, such as corporate stock and bond offerings. The 1934 Securities Exchange Act, or the "People Act," correct answers regulates the trading of securities after they have been issued (secondary market). It also created the Securities and Exchange Commission (SEC). The Maloney Act of 1938, correct answers an amendment to the Securities Exchange Act of 1934, originally provided for self-regulation of the over-the-counter market and paved the way for self-regulatory organizations, such as FINRA, the Financial Industry Regulatory Authority, in 1970. Investment Company Act of 1940 correct answers regulates the organization of investment companies offering packaged products, including mutual funds. Securities Investor Protection Act of 1970 (SIPA) correct answers established procedures to protect consumer securities and funds in the event of broker/dealer insolvency. Employee Retirement Income Security Act of 1974 (ERISA) correct answers established minimum standards for retirement, health and other welfare benefit plans. Insider Trading and Securities Fraud Enforcement Act of 1988 correct answers provides clarification on the penalties for violating insider trading rules that prohibit the use of material nonpublic information. The USA PATRIOT Act (2001) correct answers was enacted to address homeland security and fight terrorist activities with a focus on anti-money laundering. The acronym stands for Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism.