US Securities And Exchange Commission

The US Securities and Exchange Commission (United States Securities and Exchange Commission) is an independent federal regulatory agency responsible for overseeing and enforcing securities laws in the United States. Established by Congress in 1934 in the wake of the Great Depression, the SEC's primary mandate is to protect investors, maintain fair and orderly functioning of securities markets, and facilitate capital formation. The commission has jurisdiction over key participants in the securities industry, including securities exchanges, broker-dealers, investment advisers, mutual funds and public companies. It requires public companies to disclose meaningful financial and other information to the public, enabling investors to make informed decisions about investments. The SEC is headed by five commissioners appointed by the President of the United States, with staggered five-year terms, and no more than three commissioners may belong to the same political party. The agency enforces statutory requirements that public companies and other regulated entities submit quarterly and annual reports, as well as other periodic disclosures, and it has civil enforcement authority to bring actions against individuals and companies that violate securities laws. The SEC also oversees corporate takeovers and reviews registration statements for new securities offerings. Its work is critical to maintaining investor confidence in US capital markets, which are among the deepest and most liquid in the world. The commission operates through several divisions, including Corporation Finance, Trading and Markets, Investment Management, and Enforcement, and maintains its headquarters in Washington, DC.