South Carolina resident Atul Makharia serves as vice president of investments at Mantei & Associates, a branch of Centaurus Financial, Inc. As a registered representative, Atul Makharia assists clients with building wealth and managing their portfolios.
Investing has evolved since the times when professionals simply saved money and waited to retire. While safeguards have always been in place to prevent a catastrophe such as the Great Depression, Congress recently passed legislation that would provide consumers and the market with protection through the Dodd-Frank Wall Street Reform Act.
The Dodd-Frank Act was the culmination of the events that preceded the 2008 recession. Prior to this act, the only other legislation that significantly changed business on Wall Street was the Glass-Steal Act, which addressed market practices that caused the Great Depression in 1929. However, one of the key supports in the Act was dismantled, allowing banks to invest depositors’ investments in unregulated derivatives. Many attribute this deregulation as the cause of the recession in 2008 and the enactment of the Dodd-Frank Act, which came later in 2010.
The Act is a comprehensive one that covers the stock market, trading, private business, and insurance. This act allows the Federal Reserve to monitor the activities on Wall Street that increase risks to the entire economy, i.e. supervising firms that become too big. The Act prevents banks from gambling with investor money and requires hedge funds to register with the SEC. The Act allows the SEC to monitor and regulate risky derivatives as well.
The Act also regulates the lending industry. Under the Act, credit cards, loans, and mortgages are overseen by the US Department of Treasury, and it also created an office for overseeing credit rating agencies.
Headquartered in Anaheim, California, Centaurus Financial, Inc. is a national independent broker/dealer registered and licensed to offer securities, investment advisory services and insurance products. Centaurus Financial is a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Centaurus Financial is also registered as a broker/dealer and a Registered Investment Adviser with the Securities & Exchange Commission (SEC). For more information about Centaurus Financial, please visit www.centaurusfinancial.com.
Investing has evolved since the times when professionals simply saved money and waited to retire. While safeguards have always been in place to prevent a catastrophe such as the Great Depression, Congress recently passed legislation that would provide consumers and the market with protection through the Dodd-Frank Wall Street Reform Act.
The Dodd-Frank Act was the culmination of the events that preceded the 2008 recession. Prior to this act, the only other legislation that significantly changed business on Wall Street was the Glass-Steal Act, which addressed market practices that caused the Great Depression in 1929. However, one of the key supports in the Act was dismantled, allowing banks to invest depositors’ investments in unregulated derivatives. Many attribute this deregulation as the cause of the recession in 2008 and the enactment of the Dodd-Frank Act, which came later in 2010.
The Act is a comprehensive one that covers the stock market, trading, private business, and insurance. This act allows the Federal Reserve to monitor the activities on Wall Street that increase risks to the entire economy, i.e. supervising firms that become too big. The Act prevents banks from gambling with investor money and requires hedge funds to register with the SEC. The Act allows the SEC to monitor and regulate risky derivatives as well.
The Act also regulates the lending industry. Under the Act, credit cards, loans, and mortgages are overseen by the US Department of Treasury, and it also created an office for overseeing credit rating agencies.
Headquartered in Anaheim, California, Centaurus Financial, Inc. is a national independent broker/dealer registered and licensed to offer securities, investment advisory services and insurance products. Centaurus Financial is a member of both the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Centaurus Financial is also registered as a broker/dealer and a Registered Investment Adviser with the Securities & Exchange Commission (SEC). For more information about Centaurus Financial, please visit www.centaurusfinancial.com.
