15 U.S.C. § 78a: Short title

This chapter may be cited as the “Securities Exchange Act of 1934.” the Private Securities Litigation Reform Act of 1995 [see Short Title of 1995 Amendment note above] sought to prevent abuses in private securities fraud lawsuits; since enactment of that legislation, considerable evidence has been presented to Congress that a number of securities class action lawsuits have shifted from Federal to State courts; this shift has prevented that Act from fully achieving its objectives; State securities regulation is of continuing importance, together with Federal regulation of securities, to protect investors and promote strong financial markets; and in order to prevent certain State private securities class action lawsuits alleging fraud from being used to frustrate the objectives of the Private Securities Litigation Reform Act of 1995, it is appropriate to enact national standards for securities class action lawsuits involving nationally traded securities, while preserving the appropriate enforcement powers of State securities regulators and not changing the current treatment of individual lawsuits.” to authorize appropriations for the Commission for fiscal year 1997; and to reduce over time the rates of fees charged under the Federal securities laws.” the term ‘Commission’ means the Securities and Exchange Commission; and the term ‘State’ has the same meaning as in section 3 of the Securities Exchange Act of 1934 [ 15 U.S.C. 78c ].”