- NOAA Fisheries and the South Atlantic Fishery Management Council manage the wreckfish fishery.
- Managed under the Fishery Management Plan for the Snapper Grouper Fishery of the South Atlantic Region:
- A permit is required to fish for, land, or sell wreckfish.
- Bottom longlining is prohibited (only vertical hook-and-line may be used).
- Commercial fishery is closed during wreckfish spawning season (from mid-January through mid-April).
- The commercial fishery is managed under an individual transferable quota (ITQ, also known as catch shares) program. Each wreckfish fisherman owns a share of the quota and can choose to fish it anytime during the open season.
- 5 percent of the annual catch limit is allocated to recreational fishermen.
- Recreational fishing for wreckfish is allowed during July and August each year, and there is a bag limit per vessel.