The first regulation of securities in the U.S. was the:

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The first regulation of securities in the U.S. was the Kansas blue sky law, which was enacted in 1911. The blue sky laws were state-level regulations designed to protect investors against fraudulent sales practices and ensure that securities offerings were backed by legitimate investments. The Securities Exchange Act was not passed until 1934, and the Uniform Securities Act did not come into existence until the 1950s. The Interstate Commerce Act is unrelated to securities regulation.

The First Regulation of Securities in the U