THE SECURITIES and Exchange Commission, commonly referred to as the SEC, is the primary regulator of the U.S. financial securities markets, and has the overall responsibility for overseeing the federal regulation of the securities industry.

The SEC enforces, among other acts, the Securities Act of 1933, the Securities Exchange Act of 1934, the Public Utility Holding Company Act of 1935, the Trust Indenture Act of 1939, the Investment Company Act of 1940, and the Investment Advisers Act of 1940. The SEC works closely with many other institutions, including Congress, other federal departments and agencies, the self-regulatory organizations (the stock exchanges), state securities regulators, and various private sector organizations.

The SEC was created in 1934 as a governmental response to the massive stock manipulations and frauds that helped ...

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