CRPC Module 9 exam 2023/2024 with 100% correct answers

Securities act of 1933 - correct answer Required that new companies provide full disclosure through the issuance of a perspective Securities exchange act of 1934 - correct answer Created the SEC and empowered the commission to regulate exchanges and broker dealers and to require information from public companies Investment company act of 1940 - correct answer The regulation of mutual funds Investment advisors act of 1940 - correct answer Requires investment advisors to register with the SEC Major responsibility of FINRA - correct answer Develop rules and regulations for its members as the largest securities industry self regulating organization Industry developments regarding fiduciary advice - correct answer The fiduciary standard is a higher standard than the suitability standard. This will increase client expectations of advisors and put downward pressure on fees especially high fee products that have better, lower fee alternatives available The Gramm-Leach-Biliey act of 1999 - correct answer Also known as the financial services modernization act, repealed the part of glass Steagall that had previously prohibited financial institutions from consolidating and offering a combination of commercial banking investment banking and insurance services ERISA - correct answer A direct result of concern over the safety and integrity of workers company retirement plans And investment professional who reads investment journals is complying with the - correct answer Duty to keep current which requires an investment professional to be up-to-date with subjects relating to his or her job