The Dodd - Frank Act, which itself made matters worse rather than better in the wake of the government -
fueled financial downturn of 2008, explicitly empowered the Securities and Exchange Commission (SEC) as the agency to formulate rules relating to investment advisers who offer «personalized investment advice about securities to a retail customer.»
Monetary policy since the Great Depression that started in 1929 has aimed at re-inflating the economy after
downturns,
fueling the post-2001
financial bubble and, since 2008, Quantitative Easing to provide banks with liquidity to support asset prices.