SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street NW., Washington, DC 20549
Phone, 202-551-7500. Internet, www.sec.gov.
Chairman William H. Donaldson
Commissioners Paul Atkins, Roel Campos, Cynthia Glassman, Harvey Goldschmid
Managing Executive for Policy and Staff Joseph A. Hall
Managing Executive for Operations and Management Peter Derby
Managing Executive for External Affairs (vacancy)
Director, Office of Legislative Jane Cobb
Director, Office of Public Affairs (vacancy)
Director, Office of Investor Susan Ferris-Wyderko
Education and Assistance
Secretary Jonathan G. Katz
Executive Director James M. McConnell
Associate Executive Director, Office Jeffrey Risinger
of Human Resources
Associate Executive Director, Office Anne O'Donoghue
of Administrative Services
Associate Executive Director, Office Margaret J. Carpenter
of Financial Management
Associate Executive Director, Office Kenneth A. Fogash
of Filings and Information Services
General Counsel Giovanni P. Prezioso
Director, Division of Corporation Finance Alan L. Beller
Director, Division of Enforcement Stephen M. Cutler
Director, Division of Investment Management (vacancy)
Director, Division of Market Regulation Annette L. Nazareth
Director, Office of Compliance Inspections and Lori A. Richards
Chief Accountant Donald T. Nicolaisen
Chief Administrative Law Judge Brenda P. Murray
Chief Economist Chester Spatt
Chief Information Officer, Office of Information R. Corey Booth
Director, Office of International Affairs Ethiopis Tafara
Director, Office of Equal Employment Opportunity Deborah K. Balducchi
Inspector General Walter J. Stachnik
The Securities and Exchange Commission administers Federal securities laws that seek to provide protection for investors; to ensure that securities markets are fair and honest; and, when necessary, to provide the means to enforce securities laws through sanctions.
The Securities and Exchange Commission (SEC) was created under authority of the Securities Exchange Act of 1934 (15 U.S.C. 78a-78jj) and was organized on July 2, 1934. The Commission serves as adviser to United States district courts in connection with reorganization proceedings for debtor corporations in which there is a substantial public interest. The Commission also has certain responsibilities under section 15 of the Bretton Woods Agreements Act of 1945 (22 U.S.C. 286k-1) and section
851(e) of the Internal Revenue Code of 1954 (26 U.S.C. 851(e)).
The Commission is vested with quasi-judicial functions. Persons aggrieved by its decisions in the exercise of those functions have a right of review by the United States courts of appeals.
Full and Fair Disclosure The Securities Act of 1933 (15 U.S.C. 77a) requires issuers of securities and their controlling persons making public offerings of securities in interstate commerce or through the mail to file with the Commission registration statements containing financial and other pertinent data about the issuer and the securities being offered. There are limited exemptions, such as government securities, nonpublic offerings, and intrastate offerings, as well...