Which of the following statements is (are) TRUE regarding the jurisdiction of the SEC under the Securities Exchange Act of 1934?
I. The SEC has jurisdiction over exchanges and SROs.
II. The SEC has jurisdiction over broker/dealers, agents, investment advisers, and representatives that III. are required to be registered under federal law.
IV. The SEC has jurisdiction over banks and savings and loans regarding their securities activities.
A) II only.
B) I, II and III.
C) I and II.
D) I only.
Answer: C) I and II.