Thank you for the opportunity to help you with your question!
1.THEY ARE REGULATED BY SEC- The powers of the SEC are an extension of those enumerated in
Congressional legislation. Nearly every aspect of investment banking is
regulated by the SEC. This includes licensing, compensation, reporting,
filing, accounting, advertising, product offerings and fiduciary
responsibilities. 2.CONGRESS REGULATING INVESTMENT BANKS- Several other influential acts of Congress followed The Banking Act.This plays an important role in regulating investment banking. Please let me know if you need any clarification. I'm always happy to answer your questions.