The 1934 Act applies only to stock traded on a national exchange for companies whose corporate assets exceed $10 million.

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The 1934 Act (Securities Exchange Act of 1934) applies to all publicly traded companies, not just those traded on a national exchange or those with assets exceeding $10 million. It regulates secondary trading of securities (stocks, bonds, and debentures) in the United States, regardless of the size of the company's assets.

The 1934 Act Applies Only to Stock Traded on a National