SIE Exam Question 605: Answer and Explanation

Question: 605

Which of the following imposed an obligation on the SEC to consider the impacts that any new regulation would have on competition, and empowered the SEC to establish a national market system and a system for nationwide clearing and settlement of securities transactions?

• A. Uniform Securities Act of 1956
• B. Securities Act Amendments of 1975
• C. Uniform Prudent Investors Act of 1994
• D. National Securities Market Improvement Act of 1996

Correct Answer: B

Explanation:

The Securities Act Amendments of 1975 imposed an obligation on the SEC to consider the impacts that any new regulation would have on competition, and empowered the SEC to establish a national market system and a system for nationwide clearing and settlement of securities transactions.