The Securities Act of 1933 concerns truth in disclosure at the time securities are first sold; the 1934 Securities Exchange Act concerns regulation of securities already in the market.

Question

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The Securities Act of 1933 focuses on ensuring transparency and fairness during the initial sale of securities to the public, requiring issuers to provide significant information about their business and the securities being offered. The Securities Exchange Act of 1934, on the other hand, regulates the secondary trading of those securities, establishing rules for transactions, exchanges, and broker-dealers to protect investors and maintain market integrity.

The Securities Act of 1933 Concerns Truth in Disclosure at the Time