The NYSE and the SEC

John H. Wood ()
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John H. Wood: Wake Forest University

Chapter Chapter 4 in Who Governs?, 2020, pp 105-144 from Palgrave Macmillan

Abstract: Abstract The New Deal believed the Securities and Exchange Commission was needed to regulate stock exchanges and enforce the Securities Act in order to limit the public’s risk exposure. Because of the agency’s lack of expertise regarding finance, and for political accommodation, however, it decided (or was forced) to restrict its actions to the oversight of self-regulation, with mixed effects. The financial industry, particularly William McChesney Martin, Jr., at the New York Stock Exchange sought with considerable success to limit the reforms desired by the new bureaucracy.

Date: 2020
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DOI: 10.1007/978-3-030-33083-5_4

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