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Thursday, November 28, 2013

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Morgan Bennett Mr. Harris History Honors- Per 5 April 2001 The Securities and commutation rush In 1934 the Securities commute Act created the SEC (Securities and commuting Commission) in response to the telephone line foodstuff crash of 1929 and the Great Depression of the 1930s. It was created to protect U.S. investors against malpractice in securities and financial markets. The purpose of the SEC was and still is to carry battle array up the mandates of the Securities Act of 1933: To protect investors and maintain the integrity of the securities market by amending the current laws, creating unseasoned laws and seeing to it that those laws atomic number 18 gived. During the 1920s, approximately 20 million Americans took advantage of post-war prosperity by acquire shares of course in various securities exchanges. When the stock market crashed in 1929, the fortunes of numerous a(prenominal) investors were lost. In addition, banks lost great sums of capital in the c hisel in because they had invested heavily in the markets. When people feared their banks efficiency not be able to pay back the money that depositors had in their accounts, a run on the banking system caused many bank failures. after(prenominal) the crash, universe confidence in the market and the rescue vanish sharply. In response, Congress held hearings to identify the problems and look for solutions; the serve well was set in motion in the new SEC.
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The Commission was established in 1934 to enforce new securities laws that were passed with the Securities Act of 1933 and the Securities Exchange Act of 1934 . The two new laws stated that Companies pub! licly fling securities must tell the public the truth about their businesses, the securities they are selling and the risks involved in the investing. Secondly, People who sell and carry on securities must treat investors passably and honestly, putting investors interests first.2         Franklin Delano Roosevelt defeat Herbert Hoover... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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