時(shí)差N小時(shí):美國證券交易委員會(huì)

The stock market crash of 1929 devastated theAmerican economy and produced the GreatDepression. Between September 1929 and July1932, stocks lost 83% of their value, prompting theSenate Banking and Currency Committee toconduct a series of hearings on the causes of thecrash. These hearings revealed deep problems withhow stocks were being sold to investors.

1929年的股市大崩盤摧毀了美國經(jīng)濟(jì)，導(dǎo)致美國進(jìn)入大蕭條時(shí)期。1929年9月至1932年7月間，股市市值縮水83%，迫使參議院銀行和貨幣委員會(huì)進(jìn)行了一系列的聽證會(huì)，以查明股市大崩盤的原因。聽證會(huì)深層次揭露了在售向投資者銷售股票時(shí)存在的問題。

 

At that time, it was basically the responsibility of the investor to determine whether acompany was telling the truth about its stock before investing. Many stocks were sold that werenot worth their price, and millions of people lost their fortunes in the crash. To bring order outof the chaos, Congress passed three major acts creating the Securities and ExchangeCommission in 1934 and defining its responsibilities.

 

那時(shí)，在投資前判斷企業(yè)提供的信息是否屬實(shí)，責(zé)任基本在投資者。許多股票在出售時(shí)并不值當(dāng)時(shí)的價(jià)錢，上百萬人在這次災(zāi)難中失去了財(cái)富。為了在混亂中維持秩序，國會(huì)通過了三條主要的法案。1934年國會(huì)成立了證券交易委員會(huì)，并定義了它的職責(zé)。

The SEC works to monitor the stock market industry and to protect investors. Since itscreation, companies that offer their stock for sale to the public are required by federal law totell the truth about their businesses. Without an oversight body like the SEC giving investorssome basic confidence in the system, today's stock market simply couldn't exist. Corporateirregularities are not always caught as quickly as they should be, but the overall structuresdesigned by Congress have helped to make America's stock markets among the safest in theworld.

證券交易委員會(huì)的職責(zé)是監(jiān)控股票交易機(jī)構(gòu)，保護(hù)投資者的權(quán)利。自從它成立以來，上市公司需按照聯(lián)邦法律的要求，向公眾出售股票時(shí)誠實(shí)交代自己的業(yè)務(wù)。要是沒有像證券交易委員會(huì)這樣的監(jiān)督機(jī)構(gòu)，也許今天根本不會(huì)有股市存在。雖然并不總是能及時(shí)查獲企業(yè)違規(guī)現(xiàn)象，但國會(huì)制定的總體監(jiān)管結(jié)構(gòu)已將美國股市變成世界上最安全的股市之一。