SEC refers to Securities and Exchange Commission and formed in Friday 29th Octob
ID: 374022 • Letter: S
Question
SEC refers to Securities and Exchange Commission and formed in Friday 29th October, 1929 as a response to the crash of the share markets also popularly called the beginning of the great depression the purpose of SEC is primarily to check and catch individuals and organizations from breaking the SEC rules thus keep the stock market clean and therefore boost invested confidance and well being.
Insider trading refers to the trading (buying and selling) of securities by some one having access to sensitive information generally not aviable to public, it is illegal when when information is nonpublic.
Federal statutes under US federal code78u-1calls for civil penalties for Insider trading and SEC in empowered to initiate action latest case is of Brett Kennedy ex Amazon employee to be apriended.
Blue Sky law is a state law, where the specific provisions are different in different states their objective is to protect the public from fraud and require the registration of all stockbrokers, brokerage firms and securities offerings.
Explanation / Answer
What is the purpose of the SEC?
What is meant by insider trading? Include how the federal statutes define and deal with insider trading.
What are "Blue Sky" laws intended to protect? Explain.
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