Regulatory Entities, Agencies and Market Participants

Kris Heller
Mind Map by Kris Heller, updated more than 1 year ago
Kris Heller
Created by Kris Heller over 1 year ago
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Notes on Chapter 1 of ExamFX for SIE prep
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Regulatory Entities, Agencies and Market Participants
1 SEC: Securities and Exchange Commission
1.1 Created in 1934
1.1.1 1934 Securities Exchange Act "People Act"
1.1.1.1 Created SEC to establish fair & orderly market
1.1.1.2 Gave authority to SRO's to enforce standards and requirements related to security trading & brokerage business
1.2 Governs indiv & firms doing business in Financial Services
1.2.1 Regulates exchanges and broker/dealers
1.2.2 Oversees Capital Markets
1.3 Responsibilities
1.3.1 Interpret & enforce Fed Securities Laws
1.3.2 Issue new rules & amend existing ones
1.3.3 Oversee inspection of :
1.3.3.1 Firms
1.3.3.2 Brokers
1.3.3.3 Investment advisors
1.3.3.4 Auditing Fields
1.3.4 Coordinate US Securities regulation with:
1.3.4.1 Feds
1.3.4.2 States
1.3.4.3 Foreign Authorities
1.4 Violations result in:
1.4.1 revokation of registration
1.4.2 Referred to Judicial System
1.5 5 Board Members
1.5.1 Known as Commission
1.5.2 Appointed by President with Senate approval
1.5.3 Have 5 year Terms
1.5.3.1 Staggered so 1 ends every year
1.5.4 only 3 can belong to same political party
1.6 Mission
1.6.1 Protect Investors
1.6.2 Maintain fair, orderly & efficient markets
1.6.3 Facilitate Capital
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