Pennsylvania State Archives
RG-44
Records of the PENNSYLVANIA SECURITIES COMMISSION
The Pennsylvania Securities Commission was created in 1923 as the Bureau of Securities
under the Department of Banking. Its function was to regulate the sale of securities
in the Commonwealth in order to protect the public from fraudulent practices and
to encourage the financing of legitimate business and industry in the Commonwealth.
Though originally affiliated with the Department of Banking, the Commission was
formed in 1927 in response to significant changes to the Security Law and became
an independent administrative board in 1975. The Commission, comprised of three
commissioners appointed by the Governor and five administrative divisions, administers
and enforces the Pennsylvania Securities Act of 1972 and the Takeover Disclosure
Law of 1976. Its jurisdiction encompasses all securities offered and sold in the
Commonwealth, or to Commonwealth residents, except as exempted by the Securities
Act. The Commission requires the registration of securities and the licensing
of broker-dealers and investment advisors. It also investigates alleged violations
and initiates administrative and civil proceedings for the criminal prosecution
of persons who have violated the state statutes.
Last minimal processing update: 1/31/2013, acc. #6375