The Securities Act of 1933 and Securities Exchange Act of 1934 created the Securities Exchange Commission. This was formed June 6, 1934. This commission was made to restore confidence in markets and have clearer rules for dealing and more reliable information. The people selling their markets must tell the truth about their business, what exactly they are selling, and the risks of buying. Brokers and dealers most definately must treat investors fairly. There are four main divisions, Corporation Finance, Trading and Markets, Investment Management, and Enforcement.
Obviously the Securities Exchange Commission is still around today because if not our markets would be falling to pieces again and again. An example of this would be if someone purchases more than a certain percentage of a company's capital, that person must report to the SEC within a certain amount of days of the purchase because of the threats it may cause to that business and others. Some Securities Exchange Commission acts passed were the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and the Sarbanes-Oxley Act of 2002.http://www.sec.gov/http://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission
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