Government Bureaucratic Positions

By: McKenna Obermier

Securities and Exchange Commission

The Securities and Exchange Commission was created following the passing of the Securities Act of 1933, along with the Security Exchange Act of 1934. These two acts formed the SEC.



History

The SEC was created to restore investors confidence in our capitals markets, by supplying more reliable information. The top stated reasons were: First, companies publicly offering securities for investment dollars must tell the public the truth about their businesses, the securities they are selling, and the risks involved in investing, second, people who sell and trade securities -brokers, dealers, and exchanges- must treat investors fairly and honestly, putting investors' interest first.


Duties

Today, the duties of the SEC are to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.


Positions

In the SEC there are five presidentially-appointed commissioners. Out of the five one is selected to be the chairman. Currently the chairman is Elisse B. Walter. They each of the five commisioners serve a five year term.





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