The U.S. federal agency responsible for enforcing securities laws, regulating the securities industry, and protecting investors.
Created in 1934 in the aftermath of the 1929 stock market crash, the SEC oversees stock exchanges, broker-dealers, investment advisors, and mutual funds. Its primary mission is to protect investors, maintain fair and efficient markets, and facilitate capital formation. The SEC requires public companies to file regular financial disclosures (10-K annual reports, 10-Q quarterly reports, 8-K material events). It investigates and prosecutes securities fraud, insider trading, and market manipulation. The SEC also reviews and approves new securities offerings, including IPOs and new ETF structures. The EDGAR database provides free public access to all SEC filings.