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The Securities and Exchange commission was authorized by congress on June 6,1934. It was created by FDR, and the securities exchange act was signed in support that same year.
The SEC protected the public against fraud, deception, and inside manipulation. It was designed to prevent corruption.
Stock markets became better as they were not as much about gambling. This was a result of the SEC maintaining fair rules for the security markets and protecting investors.
The SEC fell into the Reform program out of FDR's Three R's. It fits here because the security of the public was changed, no one was given relief, and it did not recover from the past but instead it changed the future.
For the most part, the SEC was quite succesful. It allowed for people to feel more insured by putting monye back into the stock market. The only bad thing was that it angered many businesses.
The SEC lives on today as a successful overall program. It has changed in numerous ways such as adopting the Merrill rule. This rule allows brokers to offer fee-based accounts.
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