SEC (Securities and Exchange Commission)
The U.S. federal agency responsible for regulating securities markets, enforcing securities laws, and protecting investors.
What is SEC?
The U.S. Securities and Exchange Commission (SEC) is an independent federal regulatory agency created by the Securities Exchange Act of 1934, following the 1929 stock market crash. The SEC's mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The agency requires public companies to file regular disclosures (10-K, 10-Q, 8-K) through its EDGAR database, reviews mergers and acquisitions, brings civil enforcement actions against securities law violators, and oversees securities industry participants including broker-dealers, investment advisers, and exchanges. The SEC is led by five commissioners appointed by the President, with no more than three from the same political party.
Example
In 2023, the SEC charged crypto exchange Binance and its founder Changpeng Zhao with operating an unregistered securities exchange and offering unregistered securities, filing one of the largest enforcement actions in the agency's history and reflecting its expanded focus on digital asset regulation.
Source: SEC — About the SEC