Which U.S. president signed the Securities Exchange Act of 1934 after the 1929 Wall Street Crash?

Franklin D. Roosevelt signed the Securities Exchange Act of 1934 after the 1929 Wall Street Crash.

The act became law on June 6, 1934, during Roosevelt’s first presidential term. It created the U.S. Securities and Exchange Commission, or SEC, to regulate securities markets and enforce federal securities laws. Joseph P. Kennedy became the SEC’s first chairman.

The legislation followed investigations into the causes of the 1929 crash and the broader financial failures of the Great Depression. It required ongoing disclosure by companies with publicly traded securities and established rules governing exchanges, brokers, dealers, and market manipulation.

Herbert Hoover was president when the 1929 crash began, but Roosevelt took office in March 1933. The Securities Exchange Act was different from the Securities Act of 1933, which primarily addressed new securities offerings. Together, the laws formed a foundation of modern U.S. market regulation.