Previous section 2072, Acts of 25 June 1948, c. 646, 62 Stat. 961; 24 May 1949, c. 139, § 103, 63 Stat. 104; 18 July 1949, chap. 343, § 2, 63 Stat. 446; 10 May 1950, chap. 174, § 2, 64 Stat. 158; July 7, 1958, Pub. L. 85–508, § 12(m), 72 Stat.

348; 6 November 1966, Pub. L. 89-773, § 1, 80 Stat. 1323, empowered the Supreme Court to impose rules of civil procedure before being repealed by Pub. L. 100-702, §§ 401 (a), 407, with effect from 1 December 1988. The passage of the Rules Enabling Act on June 19, 1934, marked a revolutionary moment in the history of civil procedure law in the United States. The law abolished the archaic “principle of compliance” that had governed trials (and only trials) in U.S. federal courts for more than 140 years; namely, the rule that federal courts should align their proceedings in such claims with those of the courts of the state in which they were located. The principle of compliance has caused serious problems for federal courts that do not sit in the United States, such as the U.S.

court for China. This Act regulates investment advisers. With few exceptions, this law requires firms or individual practitioners who are compensated for advising others on securities investments to register with the SEC and comply with investor protection regulations. Since the amendment of the Act in 2010, only advisors who have assets of at least $100 million or who advise a registered investment company are required to register with the Commission. The full text of the Act is available at www.sec.gov/about/laws/iaa40.pdf. On April 5, 2012, President Barack Obama signed the Jumpstart Our Business Startups (JOBS) Act. The JOBS Act requires the SEC to draft rules and publish studies on capital formation, disclosure, and registration requirements. The JOBS Act aims to help companies raise funds in the United States. Financial markets by minimizing regulatory requirements.

For more information on the JOBS Act, visit our Jumpstart Our Business Startups (JOBS) Spotlight page. The Securities Act of 1933, often referred to as the Truth in Securities Act, has two basic purposes: to require investors to receive financial and other material information about securities offered for public sale; and prohibit deception, misrepresentation and other fraud in the sale of securities. The full text of the Act is available at www.sec.gov/about/laws/sa33.pdf. Proposal: The Commission publishes a detailed proposal for a rule on public comments. A proposed rule usually contains the text of the proposed new or amended rule, as well as a discussion of the problem(s) that the proposal is intended to address. Typically, the Commission allows between 30 and 60 days for review and advice. The Commission shall take into account the public`s contribution to the proposal when developing a final rule. In accordance with Article 2073 of the Enabling Act, the Conference of Judges has established procedures to regulate the work of the Standing Committee and its Standing Orders Advisory Committees. These procedures do not limit the powers of Rules Committees, and failure to follow these procedures does not invalidate any action taken by the Rules Committee.

The Communications Act of 1934 combined and organized federal regulation of telephone, telegraph and radio communications. The Act created the Federal Communications Commission (FCC) to oversee and regulate these industries. The Act is regularly updated to add provisions on new communication technologies such as broadcasting, cable and satellite television. The Rules Enabling Act (cap. 651, Pub.L. 73–415, 48 Stat. 1064, signed into law June 19, 1934, 28 U.S.C. § 2072) was an act of Congress that gave the judiciary the power to enact federal rules of civil procedure. The amendments to the Act led to the creation of the Federal Code of Criminal Procedure and other rules of judicial procedure. The creation and revision of rules under the Enabling Rules Act is generally done by the Rules of Practice and Procedure Committee (known as the Standing Committee) and its advisory committees,[1] which are part of the U.S. Judicial Conference. On July 30, 2002, President Bush signed the Sarbanes-Oxley Act of 2002.

The Act mandated a series of reforms to strengthen corporate accountability, improve financial disclosure, and combat corporate and accounting fraud, and created the Public Company Accounting Oversight Council, also known as PCAOB, to oversee the activities of the accounting profession. The full text of the Act is available at www.sec.gov/about/laws/soa2002.pdf. Links to all legislation and Commission reports issued under Sarbanes-Oxley are available at: www.sec.gov/spotlight/sarbanes-oxley.htm. The Communications Act has been amended by numerous acts of Congress since 1934, most broadly by the Telecommunications Act of 1996. Particularly significant changes for national security, law enforcement and intelligence services were made by the Law Enforcement Communications Assistance Act (CALEA) and the USA PATRIOT Act. This law regulates the organization of companies, including investment funds, whose principal activity is to invest, reinvest and deal in transferable securities and whose own securities are offered to the investing public. The Regulation aims to minimise conflicts of interest arising from these complex transactions. The law requires these companies to disclose their financial situation and investment policy to investors at the time of the first sale of shares and regularly thereafter.

This law focuses on the disclosure of information about the fund and its investment objectives to the investing public, as well as on the structure and activity of investment companies.