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The '''National Securities Markets Improvement Act of 1996''' is an amendment to [[Securities regulation in the United States|United States federal securities laws]] in order to promote efficiency and capital formation in the financial markets, and to amend the [[Investment Company Act of 1940]] to promote more efficient management of [[mutual funds]], protect [[investors]], and provide more effective and less burdensome regulation between states and the Federal Government.
The law made substantial changes to the competing systems of securities regulation at the state and federal level.<ref>[http://www.sifma.org/legislative/natl_sec_mkts_impvmt_act.html National Securities Markets Improvement Act summary by SIFMA]</ref>
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