Securities & Exchange Commission
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The SEC was created in 1934 after the stock market crashed. There was not much confidence left in the stock market and Congress decided to create a regulatory commission that would restore the investor's confidence by ending the misleading stock sales and stock manipulation. The commission will also maintain the stock market by providing information and creating rules. It will regulate stock brokers, over the counter markets, and exchanges. It also requires a registration for stock that has been sold and distributed.
Who did it help?
The SEC was created to assist people who wanted to invest or people who have already invested into the stock market by boosting America's confidence in the market and by proving information about the market.
What did it succeed in?
The SEC promoted and achieved stability in the stock market. It received the power to regulate stocks, bonds, and other securities. It also prevented the unfair use of nonpublic information in stock trading and stock manipulation.
How does it affect Americans today?
The SEC is still in existence today. It continues to protect potential investors and people that have already invested in the stock market. It has the responsibility of maintaining and regulating stock. The SEC still helps the U.S. economy grow on a day to day basis.
Fun Facts
1. The Securities and Exchange Commission was created by the Securities Exchange Act of 1934 and President Frederick Roosevelt.
2. The Securities and Exchange Commission consists of five commissioners that are hand chosen and appointed the President. The Senate then has to approve of the President's choices.
3. The Securities and Exchange Commission acts as an advisor to the courts if a corporate bankruptcy case appears.