Enacted by the 73rd U.S. Congress and signed by President Franklin D. Roosevelt on 6 June 1934, the Securities Exchange Act governs secondary trading of securities in U.S. markets and created the Securities and Exchange Commission. It extends the disclosure regime of the Securities Act of 1933 to ongoing trading, requiring companies meeting size thresholds to file periodic reports, and its Section 10(b) contains the Act's broad antifraud prohibition against manipulative or deceptive devices. It was later amended by the Dodd-Frank Act of 2010.
Facts
Promulgated ByUnited States Congress, 73rd Congress, signed by President Franklin D. Roosevelt 1 Jurisdiction ScopeUnited States federal, publicly traded companies and securities markets 2 Regulatory DomainSecurities and financial services 2 Classification
Legal Status Jurisdiction Scope
Jurisdiction Scope (category) Era
Era (category)20th Century (1900-1999) 2 Connections
Associated With
Both belong to the 1933 and 1934 New Deal financial reforms.
The Securities Exchange Act of 1934 extends the disclosure regime of the Securities Act of 1933 to ongoing secondary-market trading.
Established
Regulation NMS was adopted by the SEC under Section 11A of the Securities Exchange Act of 1934
In Legal System
United States federal statute, within the common law tradition.
Source Major Legal Systems in the World TodayRene David and John E.C. Brierley
Sources
1. Securities Exchange Act of 1934 (Wikipedia)
WikipediaLead sectionQuote, Lead section
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (Pub.
2. Laws that Govern the Securities Industry (Investor.gov, U.S. SEC)
U.S. Securities and Exchange Commission, Investor.gov
Major Legal Systems in the World Today
Rene David and John E.C. Brierley, Stevens and Sons, 1985In Legal System: Law of the United States
Securities Exchange Act of 1934 (Wikipedia)
In Group: United States Financial and Securities Statutes and Rules, Introduction, sentence 1Quote, In Group: United States Financial and Securities Statutes and Rules, Introduction, sentence 1
The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or 1934 Act) (Pub. L. 73-291, 48 Stat. 881, enacted June 6, 1934, codified at 15 U.S.C. § 78a et seq.) is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America.
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