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United States Securities & Exchange Commission
The '''Securities and Exchange Commission''', commonly referred to as the '''SEC''', is the [[Directory:United States|United States]] governing body which has primary responsibility for overseeing the regulation of the [[security (finance)|securities]] industry. It enforces, among other acts, the [[Securities Act of 1933]], the [[Securities Exchange Act of 1934]], the [[Trust Indenture Act of 1939]], the [[Investment Company Act of 1940]] and the [[Investment Advisors Act]]. It removed regulatory authority from the [[Directory:Federal Trade Commission|Federal Trade Commission]].
The SEC has five Commissioners who are appointed by the [[President of the United States]] with the advice and consent of the United States Senate. Their terms last five years and are staggered so that one Commissioner's term ends on [[June 5]] of each year. To ensure that the SEC remains non-partisan, no more than three Commissioners may belong to the same political party. The President also designates one of the Commissioners as Chairman, the SEC's top executive.
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President [[Franklin Delano Roosevelt]] appointed [[Joseph P. Kennedy, Sr.]], President [[John F. Kennedy]]'s father, to serve as the first Chairman of the SEC.
== External links ==
* [http://www.sec.gov/ Securities and Exchange Commission website]
