Securities Act of 1933
Law designed to ensure that investors are provided with material information about new issues of securities offered for sale to the public.
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Securities Exchange Act of 1934
Law designed to govern the trading of Securities in the secondary market. Also known as the “1934 Act” or the “Exchange Act.”
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Learn more about the various aspects of state laws and how they intersect with municipal securities.
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Security
Any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or evidence of any participation in any profit-sharing agreement.
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Guaranteed Investment Contract (GIC)
An investment agreement offered by financial institutions (e.g., banks or insurance companies) which pays a stated rate of return on invested bond proceeds for a stated term.