U.S. Securities and Exchange Commission: Difference between revisions
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It removed regulatory authority from the Federal Trade Commission. |
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The Securities and Exchange Commission, commonly referred to as the SEC, is the [[United States]] governing body which has primary responsibility for overseeing the regulation of the securities industry. It was formed 1934 to enforce the Securities Act of 1933 and the Securities Exchange Act of 1934. |
The Securities and Exchange Commission, commonly referred to as the SEC, is the [[United States]] governing body which has primary responsibility for overseeing the regulation of the securities industry. It was formed 1934 to enforce the Securities Act of 1933 and the Securities Exchange Act of 1934. It removed regulatory authority from the [[Federal Trade Commission]]. |
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President [[Franklin Delano Roosevelt]] appointed [[Joseph P. Kennedy Sr.]], President [[John F. Kennedy]]'s father, to serve as the first Chairman of the SEC. |
President [[Franklin Delano Roosevelt]] appointed [[Joseph P. Kennedy Sr.]], President [[John F. Kennedy]]'s father, to serve as the first Chairman of the SEC. |
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Revision as of 20:38, 9 June 2002
The Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. It was formed 1934 to enforce the Securities Act of 1933 and the Securities Exchange Act of 1934. It removed regulatory authority from the Federal Trade Commission.
President Franklin Delano Roosevelt appointed Joseph P. Kennedy Sr., President John F. Kennedy's father, to serve as the first Chairman of the SEC.
Currently, the SEC is organized as having five commissioners who are appointed by the President. The president appoints one of the commissioners as Chairman, and no more than three commissioners can belong to the same party.