Securities Acts Amendments of 1975

The Securities Acts Amendments of 1975 is a U.S. federal law that amended the Securities Act of 1933 and the Securities Exchange Act of 1934.^[1] It was enacted by the 94th United States Congress and signed into law by President Gerald Ford on June 4, 1975.^[2] The Securities Acts Amendments imposed an obligation on the Securities and Exchange Commission to consider the impacts that any new regulation would have on competition.^[3] The law also empowered the Securities and Exchange Commission (SEC) to establish a national market system and a system for nationwide clearance and settlement of securities transactions, enabling the SEC to enact Regulation NMS, and created the Municipal Securities Rulemaking Board (MSRB), a self-regulatory organization that writes investor protection rules and other rules regulating broker-dealers and banks in the United States municipal securities market.