Definitions for "Maloney Act Of 1938"
This Act, which was an amendment to the Securities Exchange Act of 1934, provides for the regulation of the over-the-counter market through National Securities Associations registered with the SEC.
Legislation allowing the over-the-counter market to establish the National Association of Securities Dealers to regulate itself. It was designed to protect the public from unfair practices and insure continued public confidence in the securities industry.
Was an amendment to the Securities and Exchange Act of 1934. It focused on self-regulatory activities of the over the counter market for securities. It provided the basis of the formation of the National Association of Securities Dealers (NASD).