Who does the sec oversee? sec- u.s. securities and exchange commission
The Securities and Exchange Commission oversees securities exchanges, securities brokers and dealers, investment advisors, and mutual funds in an effort to promote fair dealing, the disclosure of important market information, and to prevent fraud. Show
Agency DetailsAcronym:SEC Website:Securities and Exchange Commission (SEC) Contact:Contact the Securities and Exchange Commission File an Investor Complaint Main Address:100 F St., NE Phone Number:1-202-551-6551 1-202-551-4119 (Disability Program) Toll Free:1-800-732-0330 (Investor Information) Forms:Securities and Exchange Commission Forms Government branch:Independent Agency Related Agency
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LoadingSomething is loading. If you've ever heard the name Bernie Madoff or Enron, then the Securities and Exchange Commission (SEC) is probably on your radar. But the agency does a lot more than just investigate white-collar crimes and financial scandals. The SEC also regulates capital markets, ensures investors have a safe and fair playing ground, and holds publicly traded companies to certain reporting and disclosure laws, among other things. Here's what you need to know about this important agency. What is the SEC?The SEC is an independent, public agency of the US government. It's one of many agencies and wears several hats, but its main goal is to ensure the integrity of capital markets and the fair treatment of American investors. "The Securities and Exchange Commission is the primary US securities market regulator," says Robert R. Johnson, chartered financial analyst and professor of finance at Creighton University and author of various investing books, including "Investment Banking for Dummies." "The mission of the SEC is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation." The agency also investigates and prosecutes fraud, insider trading, and other securities-related crimes. Enron and Bernie Madoff are two of the SEC's highest-profile cases. Another well-known case is the investigation of Martha Stewart for insider trading in the early 2000s. What does the SEC do?The SEC's overarching goal is to protect US investors by maintaining a fair market. But it doesn't work directly with investors. Instead, it performs its duty by regulating stock exchanges, as well as those who sell and trade securities, including brokers, investment advisors, and asset managers. It also regulates investment companies, including investments such as mutual funds and ETFs, and ensures that companies follow public disclosure and reporting laws. "The SEC is there to instill confidence," says Vincent Lupo, managing director of US Tiger Securities, an investment brokerage based in New York. "Whether you're saving for retirement or trying to attain new financial goals, the SEC is there to enforce the rules and make sure you're protected. They require public companies and other market participants to disclose financial and other important information so that investors have the complete information to make informed investment decisions — which is especially important in today's marketplace." The SEC performs a variety of functions, including:
That last one is important, as all publicly held companies must both register with the SEC and issue certain disclosures and financial reports on a regular basis. According to John Carney, partner at law firm BakerHostetler and former senior counsel for the SEC, it's also one of the most important SEC duties of all. "They oversee how public companies report their earnings and how they make their disclosures, because that's what makes stocks go up and down," Carney says. "They make sure companies tell the truth about what's how they're doing, how much money they've made, and all their operations." How the SEC operatesThe SEC is an independent agency within the US government that's run by a chairman and four commissioners, all of whom are appointed by the US president and confirmed by the Senate. Each commissioner or chairman serves a term of five years. As you can see above, the SEC has a lot of work to do, so it's quite a large organization. More than 4,000 employees work for the agency, spread across six divisions and 26 offices. The six divisions include:
The SEC's main headquarters are located in Washington, DC, but has regional offices in 11 locations across the US, including New York, Chicago, and Los Angeles. The bottom lineIf you have a 401(k) or are invested in the stock market or a mutual fund, then the SEC has a hand in the success of those investments and the information you have to base them on. The SEC is also there should you need guidance or fall victim to a dishonest broker or investment advisor. As Carney puts it, "People should know that they can call the SEC. The SEC is there to protect them. If you believe an asset manager or a broker stole from you, the SEC can run an investigation, go after them, bring charges, and try to get your money back."
Aly J. Yale is a freelance writer, specializing in real estate, mortgage, and the housing market. Her work has been published in Forbes, Money Magazine, Bankrate, The Motley Fool, The Balance, Money Under 30, and more. Prior to freelancing, she served as an editor and reporter for The Dallas Morning News. She graduated from TCU's Bob Schieffer College of Communication with a focus on radio-TV-film and news-editorial journalism. Connect with her on Twitter or LinkedIn. Read more Read less Who does the SEC oversee SEC US Securities and Exchange Commission brokers?The Securities and Exchange Commission oversees securities exchanges, securities brokers and dealers, investment advisors, and mutual funds in an effort to promote fair dealing, the disclosure of important market information, and to prevent fraud.
Who does the SEC oversee SEC US Securities and Exchange Commission quizlet?The SEC has sole authority to regulate and oversee all investment banks under the Banking Act of 1933 commonly called the Glass-Steagall Act. This jurisdiction and oversight covers licensing, compensation, filing, accounting, advertising, product offerings, and fiduciary responsibilities.
What does the Securities and Exchange Commission SEC oversee?The Securities and Exchange Commission (SEC) is a U.S. government oversight agency responsible for regulating the securities markets and protecting investors.
Who supervises the SEC?The SEC has five Commissioners appointed by the President of the United States, with the advice and consent of the Senate. The President designates one of the five Commissioners as chair of the Commission; the current chair is Gary Gensler.
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