SIE (Securities Industry Essentials) Practice Exam

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Prepare for the SIE Exam with flashcards and multiple choice questions, each question offers hints and thorough explanations. Gear up for your exam now!

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Which act's main purpose does NOT include keeping the investing public fully informed when a security is being introduced in the primary market?

The Uniform Securities Act
The Securities Act of 1933
The Securities Exchange Act of 1934
Dodd-Frank Wall Street Reform and Consumer Protection Act

The correct answer is: The Uniform Securities Act

The Uniform Securities Act does not have a main purpose of keeping the investing public fully informed when a security is being introduced in the primary market. Instead, its main purpose is to regulate the securities industry at the state level, including registration and licensing of securities firms and professionals, and enforcement of state securities laws. The other options, B, C, and D, are all federal laws with the main purpose of protecting investors by requiring companies to disclose information about securities offerings and preventing fraud in the securities markets.