10 orders for Federal Securitys Laws

The US financial markets have long been burdened with a patchwork of old, overly complex, patriarchal rules. Meanwhile, the failure of the government to establish a regulatory system for digital resources has suppressed the innovation by combining the aggressive oppression of the industry. Surprisingly, the rest of the world came forward and left the United States behind.

Now, led by President Trump, we stand at the doorstep of a historic Tihasic change. His “biggest control campaign in history” and “general knowledge revolution” provides a rare opportunity to remove our artificial boundaries, retire to old philosophy and to reconsider our approach to control financial markets and digital resources ecosystem. Instead of creating and enclosed reactionary rules designed for past crisis and technology, we can design flexible, expected frameworks that promote innovation.

As I imagined these structures I reminded of the knowledge shared by the Chairman of the Securities and Exchange Commission Harvey Pitt (2001-2003), the lion of the Security Bar, who proposed a simple but deep solution to improve US equity markets: Guiding policies Develop to figure out our markets. Chairman Pitt compared these to the ten orders of God’s Shobar – clear policies for conducting the responsible behavior of meeting them with the art.

Often, the controllers and market participants jerk the miniature of the prescription laws and miss their main intention. The criteria, criteria and rules are in place, but here the proposed “ten orders” provide a strong foundation for the future structure. The key is to first understand the purpose of the Federal Security Act.

On their basis, these laws handle the transactions associated with security – whether a company’s share, loan promise or investment partnership. When people offer you on their money, you do their specific duties. Security laws are essentially a manifestation that is designed to ensure fair and transparent exchanges, which investors give information they need to invest and evaluate their investment.

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These laws were grown after the 1929 stock market crush, which was powered by immoral habits such as Insider Trading and Stock Manipulation, and information among the sellers of security was further enhanced by the outstanding. The Securities Act of 9 and the Security Exchange Act of the Year 134, to prevent these abuses and facilitate the agencies, protect their capital investors, and the markets were implemented to ensure that the markets were implemented to ensure fair and skilled.

Despite the good purpose, these laws have become too complicated, restricting the freedom of the investors and the freedom of investors. In the light of the sequential technology and digital resources subject to securities law, we must return to these principles that have transformed these laws – principles that promote the burden on honest business.

Based on the view of Chairman Pitt, I have left the original values ​​for market participants in the following ten orders for a credible market:

1. You will reveal material information. Complete and fair expression is the crus of security laws. Issuers must provide investors in information related to truthful, complete and non -non -non -non -nonsense material so that they can make informed financial decisions. Hiding or incorrectly presenting critical information that affects the expectations of profit reduces the integrity of the market.
2. You do not cheat or manipulate. The true value of fraud and market manipulation is the true value of security, damaging investors and distorting the market. Preventing fraudulent practices help ensure fairness.
3. You do not trade in material non -genres. Insider trading gives them an unjust benefit with access to confidential information. This ensures a fair play field for all market participants.
4. You can tell the truth about your financial health. Financial statements must be correct and transparent, reflecting the true financial condition of a company, so investors can properly evaluate the risks and make financial decisions to inform.
5. You will treat all investors equal. All investors must have equal access to material information and opportunities. It ensures fairness and prevents internal benefits and discriminatory practices.
6. Please reveal the risks that you are involved. Investors must not inform them about the risks related to their investment so they may choose to combine them with their financial goals and risk tolerance.
7. You will work according to your duties towards others. The participants of the market who have the responsibility of faith and responsibility, such as financial professionals and corporate directors, must work for the interest of their clients and shareholders, not for their own personal gain.
8. You are trying to avoid conflict of interest, but if something is inevitable, you will reveal them. The market participants’ interest conflicts should be avoided or reduced, but if the inevitable is inevitable, then the conflict must be expressed. Transparency investors make decisions with the possible bias of the investors and save faith.
9. Make sure you are fair and transparent market. Markets must be operated on the basis of the supply and demand of the free truth from artificial distortion. It encourages faith and fair value.
10. You will promote skilled and well -organized markets. All participants must handle the markets with transparent value and equal access to the markets. It encourages market stability and investors’ trust.

By focusing on these basic principles, we can create adaptive regulatory structures that keep pace with technical progress and can avoid the constraints of old laws. This time of earthquake changes in financial control towards a method of future markets and innovations. We can create a future-evidence financial system that benefits everyone by ensuring precision, fairness and order when encouraging innovation.