大学金融英语chapter 23 US Regulation of Securities Markets

,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,二级,三级,四级,五级,*,*,Chapter Twenty-Three,U.S.Regulation of Securities Markets,Learning objectives,After studying this chapter you should be able to:,1.Give a statutory definition of securities,2.Tell the principle objectives of regulating securities business or markets,3.Make a brief introduction to the major securities regulator or agencythe SEC,4.List the milestone legislation for regulating U.S.securities industry,Notes,I.New Words,1.to defraud vt.进行诈骗to deceive so as to get or keep sth.wrongly and usu.unlawfully,2.loanable a.可借出的 e.g.funds 可借出的资金,3.intrastate a.美州内的,4.interstate a.美州与州之间的,5.to contain vt.包含,6.to assess vt.确定金额 e.g.assess penalties 确定罚款金额,7.watchdog n.监察人,8.amendment n.修订 e.g.to the Act 对该法的修订,Notes,9.jurisdiction n.管辖权 e.g.under the SEC在美证券交易委员会的管辖下,10.tax-exempt a.可免税的,11.terms n.条款 e.g.the s of the contract 合同条款,12.condensed a.压缩的 e.g.version 压缩的描述,13.to distribute vt.分发to divide among several or many,14.custodian n.管理人，保管人,15.unscrupulous a.不讲道德的，不审慎的,16.milestone n.里程碑,17.outlaw vt.宣告不合法,Notes,II.Useful and Idiomatic Expressions,1.to enter the picture,牵连进去,to come into the picture,2.to file.with.,向,提出,/,提交,e.g.to file an application with the authorities,向当局提出,/,提交申请,3.to bring a legal action,起诉,=to sue,4.to be listed on the New York Stock Exchange,在纽约证交所挂牌上市,5.to appeal to.,向,上诉，上诉到,6.to keep a watchful eye on.,警惕,密切注意,7.to come in one of two forms,以两种形式中的一种出现,8.to give out,公布,e.g.false information,公布虚假信息,Notes,9.to bring.under jurisdiction,使,纳入,管辖,10.to keep track of.,记录,11.be enforceable at law,法律上可强制执行的,12.by virtue of.,凭借，由于,13.by law,按照法律,14.to register with the SEC,向证券交易委员会登记注册,15.to pass profits on to.,将利润发放给,16.to pass legislation,通过立法,17.to catch on,变得流行起来,=to become popular,Notes,III.Key Terms,1.consideration n.法律上的对价 sth.valuable exchanged as part of a contract,2.subscription agreement 认购协议,3.depository receipts 存款单,4.blue-sky laws 美州的证券法 securities laws enacted by most states,5.the secretary of state 小写时表示美国州一级管证券市场的主管官员，大写表示美国国务卿,6.care agreements 照管协议,7.securities promoters 证券创办人,8.new stock or bond issue 新股票或债券的发行,Notes,9.registration statement 注册说明书information about a firms financial condition,management,competition,industry,and experience that must be filed with the SEC prior to the sale to the public of any security with a maturity of more than 270 days,10.prospectus n.招股章程/募债说明书=a portion of a security legislation statement that is filed with the SEC and made available to potential purchasers of a security,11.brokerage firms 经纪人商行,12.Wall Street 华尔街1the street in New York in which the New York Stock Exchange is situated;2The New York Stock Exchange itself;3the financial institutions,collectively,of New York,including the stock exchange,banks,money markets,commodity markets,etc.,Notes,13.the Maloney Act of 1938 1938,年梅劳尼法,14.over-the-counter securities operations,场外交易证券操作,15.the National Association of Securities Dealers(NASD),证券商全国协会,16.the Investment Company Act of 1940 1940,年投资公司法,17.realized capital gains,已兑现的资本利得,(capital gains=capital profits=the gain on the disposal of an asset calculated by deducting the cost of the asset from the proceeds received on its proposal),Main,Text,Statutory Definition of Securities,interest or instruments that are commonly known as securities,mon stocks and preferred stock,bonds,debentures,and warrants,interests and instruments that are expressly mentioned in securities Acts(pre-organization subscription agreements;interests in oil,gas,and mineral rights;depository receipts for foreign securities,investment contracts,that is any contract whereby an investor invests money or other consideration in a common enterprise and expects to make a profit off the significant efforts of others.For example,investments in farm animals accompanied by care agreements have been found to be securities under the test.,Main,Text,Principle Objectives of Securities Market Regulation,To protect the investing public from being defrauded by unscrupulous individuals,To maintain smoothly operating and functioning of securities markets,To make sure that those involved in securities transactions can play the role of helping mobilize the sayings,loanable funds and resources available for developing American economy,Main,Text,Chief Regulatory AgencySEC,1.Adopting rules(also called regulations)that further the purpose of the federal securities statutes.These rul