U.S. Securities and Exchange Commission

:For other uses of "SEC", see SEC (disambiguation)

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The U.S. 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 enforces, among other acts, the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940 and the Investment Advisors Act of 1940. It removed regulatory authority from the Federal Trade Commission.

Related Topics:
United States - Securities - Securities Act of 1933 - Securities Exchange Act of 1934 - Trust Indenture Act of 1939 - Investment Company Act of 1940 - Investment Advisors Act of 1940 - Federal Trade Commission

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The SEC has five Commissioners who are appointed by the President of the United States with the advice and consent of the United States Senate. Their terms last five years and are staggered so that one Commissioner's term ends on June 5 of each year. To ensure that the SEC remains non-partisan, no more than three Commissioners may belong to the same political party. The President also designates one of the Commissioners as Chairman, the SEC's top executive.

Related Topics:
President of the United States - United States Senate - June 5

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President Franklin D. Roosevelt appointed Joseph P. Kennedy, Sr, father of future President John F. Kennedy, to serve as the first Chairman of the SEC. For a list of other appointees, see: Securities and Exchange Commission appointees.

Related Topics:
Franklin D. Roosevelt - Joseph P. Kennedy, Sr - John F. Kennedy - Securities and Exchange Commission appointees

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