Regulators

What you'll learn

• ✓Name major regulators
• ✓Describe investor protection rules

Lessons

1. 🧨
   Why Markets Need Referees

   The crash that built the rulebook
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2. Meet the Regulators

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3. What Regulators Actually Do

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4. When Things Break: Three Real Cases

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5. Final Boss: Regulators in the Wild

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Sources

All content is drawn from the sources below. We deliberately avoid unverified material.

• About the SEC
  U.S. Securities and Exchange Commission · institutional
  Mission, history, and core functions of the SEC. Backs the 1934 founding and the four-job framework.
  https://www.sec.gov/about
• The Investor's Advocate: How the SEC Protects Investors
  U.S. Securities and Exchange Commission · institutional
  Used for the 1929 crash, Securities Acts of 1933 and 1934, and Joseph P. Kennedy as first SEC Chair.
  https://www.sec.gov/about/what-we-do
• About the CFTC
  U.S. Commodity Futures Trading Commission · institutional
  Backs the SEC vs CFTC split: derivatives, futures, and swaps belong to the CFTC.
  https://www.cftc.gov/About/AboutTheCommission
• FCA Handbook overview
  Financial Conduct Authority · institutional
  Used for FCA scope and the post-2013 supervisory framework.
  https://www.handbook.fca.org.uk/
• AMF Charter and 'Who we are'
  Autorité des Marchés Financiers · institutional
  Backs the 2003 creation of the AMF by merger of COB, CMF, and CDGF.
  https://www.amf-france.org/en/amf/presentation-amf
• About BaFin
  Bundesanstalt für Finanzdienstleistungsaufsicht · institutional
  Backs BaFin's 2002 founding and consolidated supervision of banks, insurers, and securities firms.
  https://www.bafin.de/EN/DieBaFin/AufgabenGeschichte/aufgabengeschichte_node.html
• ESMA strategic priorities
  European Securities and Markets Authority · institutional
  Backs ESMA's role as EU-level coordinator of national regulators.
  https://www.esma.europa.eu/about-esma/who-we-are
• About FINMA
  Swiss Financial Market Supervisory Authority · institutional
  Backs FINMA's 2009 founding and Switzerland's separate (non-EU) supervision.
  https://www.finma.ch/en/finma/finma-an-overview/
• About the SFC
  Securities and Futures Commission of Hong Kong · institutional
  Backs SFC's 1989 founding and Hong Kong scope.
  https://www.sfc.hk/en/About-the-SFC
• Sarbanes-Oxley Act of 2002 (Public Law 107-204)
  U.S. Congress · institutional
  Primary text. Used for CEO/CFO certification (Section 302), internal controls (Section 404), and PCAOB creation.
  https://www.congress.gov/bill/107th-congress/house-bill/3763
• Investigation of Failure of the SEC to Uncover Bernard Madoff's Ponzi Scheme
  SEC Office of Inspector General, Aug 2009 · institutional
  OIG report explaining how Madoff was missed and what reforms followed.
  https://www.sec.gov/files/oig-509.pdf
• Regulation NMS Final Rule release
  U.S. Securities and Exchange Commission, 2005 · institutional
  Used for the US market-structure rules cited in lesson 3.
  https://www.sec.gov/rules/final/34-51808.pdf
• MiFID II (Directive 2014/65/EU) consolidated text
  EUR-Lex · institutional
  Primary text for the EU market-structure regime in force since January 3, 2018.
  https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02014L0065-20240328
• Wholesale Markets Review
  HM Treasury and FCA, 2021 · institutional
  Used for post-Brexit UK divergence from MiFID II.
  https://www.gov.uk/government/consultations/uk-wholesale-markets-review-a-consultation
• Securities Regulation, Loss & Seligman
  Wolters Kluwer (Aspen) · book
  Standard US securities-law treatise. Used for historical context on the 1933/34 Acts, Reg NMS, and SEC enforcement.