ABSTRACT
The record of falsehood and betrayal with which Ivar Kreuger besmirched the very pillars of finance in the leading countries of the world has come, particularly in the United States, the erection of new safeguards for investors. Kreuger a household name. People naturally wondered why one of the richest and most influential men in the world had taken his own life. Articles in Fortune, Business Week, and the Nation described the fraud and blamed accountants, investment bankers, directors, the stock exchanges, and ultimately the government for failing to protect the public. The Securities Act’s primary goal was to ensure that investors received complete and truthful information about the securities offered for sale. The Securities Exchange Act of 1934 sought to end many abusive practices that had been common during the 1920s. The Commission commended Patrick Glover’s committee for drafting new audit requirements in the wake of the McKesson & Robbins crisis.
