2) Which of the following statements is true of securities regulation?

A) The Securities Exchange Act of 1934 requires periodic disclosures from issuers of securities.

B) The Securities and Exchange Commission was created by the 1933 Act.

C) The 1933 Act regulates the sale of securities while they are passing from the hands of the issuer into the hands of the private investors.

D) Unlike other federal administrative agencies, the Securities and Exchange Commission has only legislative functions.