Securities regulation in the United States

The stock exchanges and securities laws of the United States are the laws that govern the establishment and management of exchanges, joint stock companies, shares and other listed financial products in the United States.

Background

Among the most important U.S. stocks and securities laws

• The Securities Act of 1933,
• The Securities Exchange Act of 1934,
• The Public Utility Holding Company Act of 1935,
• The Trust Indenture Act of 1939,
• The Investment Company Act of 1940,
• The Investment Advisers Act of 1940,
• The Securities Investor Protection Act of 1970, as well as
• The Sarbanes -Oxley Act of 2002

Securities Act of 1933

The Securities Act of 1933 was enacted in response to the previous global economic crisis in 1933 by the U.S. Congress.

Rule 144A

One of the most important for German investors and companies regulations in this law is the much-quoted Rule 144A, which allows qualified institutional investors ( qualified institutional buyers ) to trade privately placed securities without needing to comply holding periods.

Although it has not tested prospectus for this private placement will be created, but a so-called Offering Circular, which provides information on the key features of the security.