The Federal Bar Association - Securities Law Section is a proud sponsor of the virtual museum and archive of the history of financial regulation at www.sechistorical.org this year.
While the museum is free and accessible to everyone at all times, the Section will highlight specific material and information within the museum on securities law issues in the coming months, providing current and prospective Section members with unique content and context for use at any time.
“Sunlight is said to be the best of disinfectants; electric light the most efficient policeman.” This sentence is at the beginning of Louis D. Brandeis’s December 20, 1913 “What Publicity Can Do” article in Harper’s Weekly, the last in a series in which Professor Brandeis described the concentration of power in the hands of the investment bankers by consolidation of banks and railroads, and the interlocking of directorates, and the subsequent bad effect on the small investor. The sentence became a mantra for the need for real disclosure and knowledge of the facts, an underpinning of the Securities Act of 1933 and the Securities Exchange Act of 1934.
The sentence is also the philosophy of the virtual museum and archive at www.sechistorical.org, as the preeminent source for trusted and verified information and material on the regulation of the capital markets from the 20th century to the present. Its integrity and independence are unimpeached, and all visitors can be confident that they are accessing accurate and authentic information when they utilize the museum’s primary and original materials.