• How many enforcement actions does the SEC take each year against securities law violators? What are the typical infractions?

Each year, SEC files hundreds of enforcement actions against companies and people who violate securities laws. For instance, in the 2015 fiscal year, SEC announced that it had filed 807 enforcement actions. In 2014, SEC filed a total of 755 enforcement actions and in fiscal year 2013, it filed 676 enforcement actions. The typical infractions include the following: accounting fraud, inside trading and providing false information about securities and companies that issue them (U.S. Securities and Exchange Commission, n.d).

• After the Depression, Congress passed the Securities Acts of 1933 and 1934 to improve investor confidence in the markets. What two “common sense” notions are these laws based on?

First, the companies that publicly offer securities for investment dollars must provide the public with the truth regarding their business, securities, and the risk involved in investing. Second, individuals who sell securities must prioritize the interest of the investors by treating them fairly.

• Who was the President of the United States at the time of the creation of the SEC? Who was the first SEC Chairperson? Who is the current SEC Chairperson?

At the time SEC was created, the president of the United State was Franklin D. Roosevelt (U.S. Securities and Exchange Commission, n.d). The first SEC Chairperson was Joseph P. Kennedy. The current SEC Chairperson is Mary Jo White (U.S. Securities and Exchange Commission, n.d).

Reference

U.S. Securities and Exchange Commission. (n.d). What We Do. Retrieved March 11, 2016, from https://www.sec.gov/about/whatwedo.shtml

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