Which of the Following Statements Is True of the Securities

Which of the following statements is true of the Securities Exchange Act of 1934?

A) The Act makes it legal to sell a security on a national exchange.
B) The registration under the 1934 Act is the same as under the 1933 Act.
C) The registration process excludes filing of prescribed forms with the Securities Exchange Commission.
D) The Act deals with original offerings of securities instead of regulating transfers of securities after the initial sale.
E) The Act requires brokers and dealers to keep detailed records of their activities and filing of annual reports with the Securities Exchange Commission.