What does the Securities Exchange Act of 1934 primarily regulate?

The Securities Exchange Act of 1934 primarily regulates transfers of securities after the initial sale. This Act was established to govern the secondary trading of securities, setting forth the rules that ensure fair trading practices and protecting investors from malpractice. It focuses on issues such as reporting requirements for public companies, insider trading regulations, and the regulation of stock exchanges. By overseeing these aspects, the Act promotes transparency and integrity in the securities markets, which is essential for investor confidence and the overall functioning of the economy.

In contrast, the other options focus on different aspects of securities regulation. Initial sales of securities fall under the Securities Act of 1933, which deals with the registration and disclosure requirements necessary for new issuances. The registration processes for new companies also relate more to the Securities Act of 1933, aimed at ensuring that companies provide adequate information to investors prior to the sale of securities. Stock market predictions are not regulated by this Act; instead, they pertain to market analysis and investment strategies, which can vary widely and do not fall under legal framework established by the 1934 Act.