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U.S. Securities and Exchange Commission

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The United States Securities and Exchange Commission (SEC) is a United States government agency. It helps protect investors and it helps keep the stock market fair. The SEC enforces federal securities laws. It watches over stock exchanges, brokers, investment advisers, and some investment funds (like mutual funds).[1]

United States Securities and Exchange Commission
Seal of the United States Securities and Exchange Commission.svg
Agency overview
Formed June 6, 1934; 92 years ago (1934-06-06)
Jurisdiction United States federal government
Headquarters Washington, D.C., United States
Employees 4,807 (2022)
Annual budget US$2.6 billion
Agency executive Paul S. Atkins, Chairman
Website
sec.gov

The SEC can bring civil cases in federal court. It can also start cases inside the agency. When something may be a crime, the SEC can send the case to the U.S. Department of Justice.[2]

What the SEC does

The SEC does three main kinds of work:

  • Rules: The SEC writes rules for parts of the securities market.
  • Exams: The SEC examines some firms to check if they follow the rules.[3]
  • Enforcement: The SEC investigates possible violations, like fraud and insider trading.

The SEC also runs EDGAR, an online system where many public companies file reports. Investors and reporters use EDGAR to read those filings.[4]

History

The SEC was created in 1934, after the stock market crash of 1929 and the Great Depression. Congress passed new securities laws as part of President Franklin D. Roosevelt’s New Deal. The main goal was to rebuild trust in markets by requiring honest information and by punishing fraud.

Organization

The SEC is run by five commissioners. The President of the United States chooses them, and the United States Senate confirms them. By law, no more than three commissioners can be from the same political party.

The SEC has several main divisions, including:

  • Corporation Finance
  • Trading and Markets
  • Investment Management
  • Enforcement
  • Economic and Risk Analysis
  • Examinations[5]

Regional offices

The SEC has regional offices around the United States. These offices help with investigations and exams outside Washington, D.C. The largest regional office is in New York City.[6]

In the news

In the 2020s, the SEC brought major cases involving crypto and other digital assets. Court decisions also changed some parts of how the SEC can punish misconduct. In SEC v. Jarkesy, the Supreme Court said some SEC cases must be decided by a jury in federal court when the SEC seeks civil penalties for fraud.[7]

In the media

The SEC often appears in news stories about stock-market fraud, insider trading, and big company scandals. Reporters usually mention the SEC when the government files a civil case, fines a company, or bans someone from working in the securities business.

Movies, TV shows, and documentaries about Wall Street also mention the SEC. Writers often use the SEC as the “watchdog” that investigates scams, follows paper trails, and takes people to court.

People also talk about the SEC online during major market events. When a big exchange, broker, or public company collapses, many viewers ask what the SEC knew and what the SEC will do next.

U.S. Securities And Exchange Commission Media

  • Joseph P. Kennedy Sr, the inaugural chairman of the SEC

  • Photo of Joseph P. Kennedy, Sr. He was the United States Ambassador to Great Britain at the time this photo was taken.

  • James M. Landis, American government official who served in many roles

  • Photograph of Jerome Frank, then a Securities and Exchange Commissioner, accompanying press release of his possible nomination to the chairmanship of the Commission.

  • Edward C. Eicher, US Representative from Iowa

  • Hamer H. Budge, U.S. Representative from Idaho

  • William J. Casey, director de la CIA (1981-1987).

  • A photo of US Securities and Exchange Commission Chair Mary Schapiro (2009-). The file being uploaded is here.

Other websites

References

  1. ↑ What We Do. SEC.govU.S. Securities and Exchange Commission. Retrieved 24 February 2026.
  2. ↑ Division of Enforcement. SEC.govU.S. Securities and Exchange Commission. Retrieved 24 February 2026.
  3. ↑ Division of Examinations. SEC.govU.S. Securities and Exchange Commission. Retrieved 24 February 2026.
  4. ↑ About EDGAR. SEC.govU.S. Securities and Exchange Commission. Retrieved 24 February 2026.
  5. ↑ Divisions. SEC.govU.S. Securities and Exchange Commission. Retrieved 24 February 2026.
  6. ↑ Regional Offices. SEC.govU.S. Securities and Exchange Commission. Retrieved 24 February 2026.
  7. ↑ SEC v. Jarkesy, 22-859 (Opinion). SupremeCourt.govSupreme Court of the United States. Retrieved 24 February 2026.
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