The law that created the Securities and Exchange Commission (SEC) and gives it broad authority over the securities industry. The SEC can register and regulate brokerage firms, transfer agents, clearing agencies, and self-regulatory organizations (SROs) such as the New York Stock Exchange (NYSE), the American Stock Exchange (AMEX), and the National Association of Securities Dealers (NASD), which operates the NASDAQ stock market. The law prohibits certain conduct and gives the commission disciplinary powers over individuals and companies. The SEC also requires publicly traded companies to periodically report financial information if they have more than $10 million in assets or more than 500 shareholders.
securities exchange act of 1934 - Legal Definition