Securities Exchange Act of 1934

The Securities Exchange Act of 1934 (also called the Exchange Act, '34 Act, or Act of '34), 48 Stat. 881 (enacted June 6, 1934), codified at 15 U.S.C.
78a et seq., is a law governing the secondary trading of securities (stocks, bonds, and debentures) in the United States of America. It was a sweeping piece of legislation. The Act and related statutes form the basis of regulation of the financial markets and their participants in the United States. The 1934 Act also established the Securities and Exchange Commission (SEC),[1] the agency primarily responsible for enforcement of United States federal securities law.