The Securities and Exchange Commission (SEC) was established by Congress in 1934 to enforce the Securities Exchange Act of 1934.

In August 1986 Congressman John Dingell proposed legislation to amend the Securities Exchange Act of 1934.

This act created the Securities Exchange Commission (SEC) and required any brokers or dealers engaged in the exchange of securities to report these transactions to the SEC

1933 Act applies to original issue of securities (initial public offering) where the 1934 Act applies to secondary trading.

Most securities litigation concerns actions under the 1934 Act.

The Securities Exchange Act of 1934 is the primary legislation covering the securities markets.