75th Anniversary of the 1940 Acts

“For 75 years, these Acts have served as a strong foundation for the Commission's regulation of the asset management industry. Their flexibility has enabled the Commission to develop rules and regulatory responses to protect investors as the industry and markets have evolved.”
U.S. Securities & Exchange Commission Chair Mary Jo White

The SEC hosted a conference Tuesday, Sept. 29, commemorating the 75th Anniversary of the Investment Company Act and the Investment Advisers Act. The event included remarks from SEC Chair Mary Jo White and fellow commissioners, as well as a series of panel discussions featuring industry pioneers, former SEC chairmen and division directors, academics and other distinguished leaders from the asset management field.

The Investment Company Act and the Investment Advisers Act, which were signed into law by Pres. Roosevelt in August 1940, are the primary laws governing investment companies and investment advisers, and give the SEC the power to regulate these entities. Investment companies and investment advisers are a significant part of the U.S. capital markets, and in 2015, the SEC oversees registered investment companies with a combined $17.8 trillion in assets and registered investment advisers with approximately $67 trillion in regulatory assets under management.

The Investment Company Act and the Investment Advisers Act, which were signed into law by Pres. Roosevelt in August 1940, are the primary laws governing investment companies and investment advisers, and give the SEC the power to regulate these entities. Investment companies and investment advisers are a significant part of the U.S. capital markets, and in 2015, the SEC oversees registered investment companies with a combined $17.8 trillion in assets and registered investment advisers with approximately $67 trillion in regulatory assets under management.