A principal purpose of the Securities Exchange Act of 1934 is generally considered to be: [A] To establish specific statutory standards for contractual agreements between those corporations issuing bonds and the representatives of investors who own the bonds.
[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.
[C] To reimburse customers of failed broker/dealers.
[D] To establish standards to govern activities of those organizations which engage in the business of providing securities investment advice.

[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.

Explanation:

A stockbroker refers to an individual who is saddled with the responsibility of buying and selling stocks (shares) on a stock exchange market on behalf of his or her clients.

Generally, a broker acts as an intermediary between a buyer (investor) and a seller (securities exchange) for a commission or an agreed upon fee after executing the deal. Thus, a broker also referred to as a stockbroker acts as a principal party in the buying or selling of stocks or securities in the financial markets.

Additionally, the actions or activities of a broker in the financial market is regulated by regulatory (financial) institutions such as the securities and exchange commission (SEC).

The SEC, an acronym for Securities and Exchange Commission was created under the Securities Exchange Act of 1934. The Act empowered the SEC to require registration of securities, security exchanges, and reporting by publicly owned firms.

Hence, a principal purpose of the Securities Exchange Act of 1934 is generally considered to be to protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.

[B] To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.

Explanation:

A principal purpose of the Securities Exchange Act of 1934 is generally considered to be: To protect the public against unfair and inequitable practices in the over-the-counter market and on stock exchanges.

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