Short comparison between the Financial Supervision Authority of Romania (ASF) and the Security and Exchange Commission of U.S.A. (SEC)
Short comparison between the Financial Supervision Authority of Romania (ASF) and the Security and Exchange Commission of U.S.A. (SEC)

Author(s): Ileana Voica
Subject(s): Law, Constitution, Jurisprudence
Published by: Societatea de Stiinte Juridice si Administrative
Keywords: Financial Supervision Authority; Security and Exchange Commission of USA; capital market; financial instruments;
Summary/Abstract: The work consists of two main parts: the first, in which there are described the establishment, the competence as well as the organization and operation of ASF, according to the updated Governmental Emergency Ordinance 93/2012 and according to the presentation site of ASF. The second part of the work presents the same elements for SEC of U.S.A., as they are described in detail on the SEC site of the American Government. At the end of the work, there is a conclusions part, through which there are compared the main features of the two institutions with all the fundamental difference between them, regarding the activity duration, SEC operating since 1934 (being established through the Foreign Exchange Act of 1934) based on the old federal laws and those that regulated in the USA the capital market, long before we have a capital market in Romania that would need the establishment of ASF (2012).

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