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Enacted by Franklin D. Roosevelt's administration, the SEA of 1934 granted the SEC broad authority to regulate all aspects of the securities industry. This Act closely followed the SEA of 1933, which was created and passed into law to protect investors after the disruptive stock market crash of 1929. The legislation outlined two priorities: to ensure greater transparency, accuracy, and less manipulation of the markets as a result of fraud. These laws served not only to add increased regulation in the markets but provided additional protection to investors, so that they could make more informed decisions about investments.
On March 9, 2022 the Securities and Exchange Commission (SEC) voted three-to-one to propose a targeted update to The Securities Exchange Act of 1934 (SEA). “S7-09-22: Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure,” would require reporting about cybersecurity incidents by public companies that are subject to the reporting requirements of the Securities Exchange Act of 1934.
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