Capital Markets and Regulators

Free FINRA SIE (Securities Industry Essentials) lesson in Knowledge of Capital Markets. 12 min read, ~1,744 words.

SEC sits at the top: federal securities regulator created by the Securities Exchange Act of 1934 and oversees all SROs. FINRA regulates broker-dealers and enforces MSRB rules; the MSRB only writes muni rules. SIPC covers \$500,000 per separate customer (\$250,000 cash sublimit), and only when a firm fails (never market...