The Securities Exchange Act of 1934
This act created the SEC. The act gives the SEC the authority over all aspects of the securities industry, including disciplinary powers, and the power to prohibit certain conduct. These powers include: register, regulate, oversee brokerage firms, transfer agents, and SROs. The New York Stock Exchange, the American Stock Exchange and NASDAQ are SROs. The act also empowers the SEC to require periodic reporting of information by companies with publicly traded securities.