SIE Exam Question 675: Answer and Explanation

Question: 675

The Securities Acts Amendments of 1975 did which of the following?

• A. It gave authority to the Municipal Securities Rulemaking Board (MSRB).
• B. It required financial institutions to assist U.S. government agencies to detect and prevent money laundering.
• C. It provided fiduciary responsibilities for those who manage and control plan assets and gave participants the right to sue for benefits and breaches of fiduciary duty.
• D. It created the Public Company Accounting Oversight Board to oversee the activities of the auditing profession.

Correct Answer: A

Explanation:

The Securities Acts Amendments of 1975 gave authority to the Municipal Securities Rulemaking Board (MSRB).