Known as the “Truth in Securities Law," this act requires companies to provide honest, complete information about their investments. This disclosure requirement aims to protect people from fraudulent investment schemes and misleading claims, such as those that contributed to the 1929 stock market crash.

This ruling allows the Federal Trade Commission (FTC) to stop unfair business practices that do not involve fraud or deception. This was a major expansion of consumer protection authority, recognizing the ability to hold businesses accountable for practices that can harm consumers, even if they aren't overtly fraudulent or intentionally deceptive.

This act created the Securities and Exchange Commission (SEC) as "the investor's advocate," giving Americans a powerful watchdog to protect their savings in the stock market. The SEC enforces fair trading rules, prevents market manipulation, and ensures ordinary investors have a level playing field with big Wall Street firms.

Before this act,  the FTC could only restrict business practices that were unfair to business competition. This act expands the FTC’s power to include protecting consumers from false advertising, scams, and deceptive business practices. Now, it can protect consumers directly from these practices.

This Act requires companies to prove their products are safe before selling them—a dramatic shift from the old "sell first, ask questions later" approach. This Act protects families from dangerous foods, ineffective medicines, and toxic cosmetics by setting safety standards and requiring scientific testing before products can reach store shelves.