Securities Exchange Act of 1934

1) Link to the Text of the Act
Read the statute (15 U.S.C. § 78a et seq.)

2) Why It Was Done
The Act created the Securities and Exchange Commission (SEC) and gave it authority to regulate securities markets, broker-dealers, and ongoing disclosures by public companies.

3) Pre-existing Law or Constitutional Rights
The Securities Act of 1933 regulated initial offerings but did not cover trading of securities after issuance. The 1934 Act filled this gap and established a permanent federal regulator.