As the 2015-16 academic year begins, the museum recommends these materials for the teaching and study of accounting and auditing, business, economics and law:
The Back to School Feature is made possible through the generous support of Morrison & Foerster LLP.
"But those of you...should also recall President Roosevelt's recent remarks when he signed the Investment Company Act and the Investment Advisers Act. 'These Acts,' he said, 'give the Securities and Exchange Commission power to regulate investment trusts and investment counselors. They mark another milestone in this Administration's vigorous program.to protect the investor. As the pressure of international affairs increases, we are ready for the emergency because of our fight to put our domestic affairs on a true democratic basis. We are cleaning house, putting our financial machinery in good order. This program is essential, not only because it results in necessary reforms, but for the much more important reason that it will enable us to absorb the shock of any crisis.'"
Despite tremendous growth in the late 1920s, investment companies were essentially unregulated. In the 1930s, the U.S. Securities and Exchange Commission conducted a major investigation which pointed to serious self-dealing and other abuses in the industry. Enacted in August 1940, the Investment Company Act and the Investment Advisers Act required investment companies and their directors, managers, and advisers to register with the SEC and prohibited many of the worst practices.
Check out these materials in the museum collection for additional content and context for the Acts, or use Search for more information:
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