What legislation governs the regulation of the financial services industry?

In South Carolina, the financial services industry is subject to a wide range of laws and regulations. These laws are designed to protect consumers and ensure the stability of the marketplace. The South Carolina Securities Act of 1989 sets out a range of regulations that must be followed by those operating in the financial services industry. This law establishes the South Carolina Securities Commission, which is responsible for regulating the securities industry. It outlines the requirements for securities registration, broker-dealer registration, and the operation of investment advisors. It also sets out the standards for the sale of investments, the disclosure of financial information, and the registration of securities. The South Carolina Uniform Securities Act of 2002 also governs the industry. This law sets out a uniform regulatory system for the securities industry, ensuring that all firms in the state are subject to the same laws and regulations. The law also sets out the process for registering securities, brokers, and investment advisors. The South Carolina Consumer Protection Code is another important law in the regulation of the financial services industry. This law sets out a range of consumer protections, including the rights of consumers when dealing with financial services firms. It also outlines the processes for resolving disputes and provides for the enforcement of the law. Finally, the federal Dodd-Frank Wall Street Reform and Consumer Protection Act is also relevant to the regulation of the financial services industry in South Carolina. This law imposed a range of regulatory requirements, including the establishment of the Consumer Financial Protection Bureau, which is responsible for protecting consumers from unfair and deceptive practices. In summary, the financial services industry in South Carolina is subject to a range of laws and regulations. These include the South Carolina Securities Act of 1989, the South Carolina Uniform Securities Act of 2002, the South Carolina Consumer Protection Code, and the federal Dodd-Frank Wall Street Reform and Consumer Protection Act.

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What legislation governs the regulation of the financial services industry?

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