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With consent of the governed: SEC's formative years
Author(s) -
McCraw Thomas K.
Publication year - 1982
Publication title -
journal of policy analysis and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.898
H-Index - 84
eISSN - 1520-6688
pISSN - 0276-8739
DOI - 10.2307/3324354
Subject(s) - formative assessment , informed consent , psychology , political science , business , medicine , pedagogy , alternative medicine , pathology
The Securities and Exchange Commission, established in 1934, has achieved a uniquely high reputation for effective regulation. The SEC succeeded in large measure because of the initial strategy developed by its founders. Led by Joseph P. Kennedy, James M. Landis, and William O. Douglas, the SEC sought to restore public confidence in the capital markets and induce regulated interests to help enforce public policy. These interests included the accounting profession, the organized securities exchanges, and the brokers and dealers operating in the over‐the‐counter market. In each case, the SEC encouraged the strengthening of regulatory structures within the private sector, using its power and influence to promote what later came to be called the “public use of private interest”.