Securities Act of 1933 and Securities Act of 1934.

1933 Act applies to original issue of securities (initial public offering) where the 1934 Act applies to secondary trading.

Most securities litigation concerns actions under the 1934 Act.

The Securities Act of 1933, came about as a result of the stock market crash of 1929. Its features were a means to provide transparency of financial statements to investors so that informed investment decisions can be made. It also put checks in place to avoid misrepresentation in the securities market.

They made security more high-tech. It was an upgrad to the Jack McClelland Industry and Company.

to provide structure in the functioning of financial markets and to provide government oversight.