Subject:
Securities Exchange Act of 1934 The Securities Exchange Act of 1934 is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. The Act, 48 Stat. 881 (enacted June 6, 1934), codified at 15 U.S.C. ยง 78a et seq., was a sweeping piece of legislation. The Act and related statutes form the basis of regulation of the financial markets and their participants in the United States. It is commonly referred to as the “Exchange Act”, the “‘34 Act”, and the “Act of ‘34″.
Companies raise billions of dollars by issuing securities in what is known as the primary market. Contrasted with the Securities Act of 1933, which regulates these original issues, the Securities Exchange Act of 1934 regulates the secondary trading of those securities between persons often unrelated to the issuer. Trillions of dollars are made and lost each year through trading in the secondary market. (Wikipedia Feb 2010)
Market regulation
By John Schroy, on June 16th, 2009 | 
The financial reforms of the New Deal lasted for over fifty years and were based on two years of work by the US Senate Pecora Commission, spanning two administrations with bipartisan support.
In contrast, the Obama “reforms” are being concocted in secret to be rushed through the Pelosi-Reid Congress, already famous for passing substantial legislation in the dark of night, without reading the text.
Historically, slap-dash, one-party ‘reforms’ have not survived a Congress controlled by the other party.
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