Deck · FINRA SIE
Overview of the Regulatory Framework
The Acts, registration and qualification, associated-person conduct rules, and reporting obligations (9% of the exam).
72 cards · audited · SM-2 spaced repetition
Included with the full FINRA SIE program — 4 decks, 790 cards.
Sample cards
What is a self-regulatory organization (SRO)?
A membership organization — such as FINRA, the MSRB, or Cboe — that writes and enforces rules for its own members, operating under SEC oversight.
Which federal agency oversees all securities SROs?
The Securities and Exchange Commission (SEC) — every SRO operates under its supervision.
Which law created the SEC?
The Securities Exchange Act of 1934.
What does the Securities Exchange Act of 1934 primarily regulate?
The secondary market — exchanges, broker-dealers, and trading practices — including anti-fraud and anti-manipulation provisions. It is often called the 'People Act' because it regulates market participants.
How do the Securities Act of 1933 and the Securities Exchange Act of 1934 divide responsibility?
The 1933 Act governs new issues in the primary market (registration and prospectus requirements); the 1934 Act governs secondary-market trading and the people and firms that trade.
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