Federal securities law is mostly enforced and overseen by the U.S. Securities and Exchange Commission (SEC). Federal securities law is very important, as it is authoritative for all publicly traded corporations' stock trading and exchange.
The Securities Exchange Act of 1933 provides guidance for newly issued securities. It requires that investors receive material information about available securities, as well as prohibiting fraud and deceit in the sale of securities. Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
The Securities Exchange Act of 1934 created the Securities Exchange Commission (SEC) and gave that commission authority to oversee and regulate firms and agents that trade securities, as well as prohibiting certain conduct and giving disciplinary power to the SEC. Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
The Trust Indenture Act of 1939 requires a formal written agreement when selling bond issues valued over $50 million (was formerly $10 million, when the law was enacted). Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
The Investment Company Act of 1940 regulates companies who primarily invest in/ trade securities and requires them to disclose their financial condition and investment policies to investors who buy stock from them. Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
The Sarbanes-Oxley (SOX) Act of 2002 was enacted in response to some corporate financial scandals of the early 2000s. It mandates certain financial record-keeping and reporting practices for public corporations. Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
The Dodd–Frank Wall Street Reform and Consumer Protection Act was enacted in response to the 2008 financial crisis. It placed new regulatory measures on banks, mortgage lenders, and credit rating agencies, all of which are intertwined with securities law, in an attempt to prevent future financial crises. Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
The Jumpstart Our Business Startups (JOBS) Act intended to improve access to public capital markets for small businesses. It required the Securities Exchange Commission to write rules on capital formation, disclosure, and registration requirements. Public access to the Act is linked above, and it can also be found on Lexis and Westlaw.
Most other securities laws could be found in Title 12 (Banks and Banking) or Title 15 (Commerce and Trade) of the U.S. Code. Public access to the Titles are linked above, and the U.S. Code can also be found on Lexis and Westlaw.
Federal securities regulations are written by the Securities & Exchange Commission. They are first published in the Federal Register. They are later codified in Title 17 (Commodity and Securities Exchanges) of the Code of Federal Regulations (CFR). Public access to Title 17 of the CFR is linked above, and it can also be found on Lexis and Westlaw.
