United States Securities and Exchange Commission
Seal of the U.S. Securities and Exchange Commission | |
Flag of the Securities and Exchange Commission | |
U.S. Securities and Exchange Commission headquarters in Washington, D.C. | |
| Agency overview | |
|---|---|
| Formed | June 6, 1934 |
| Type | Independent (component of the Federal Law Enforcement Community) |
| Jurisdiction | United States federal government |
| Headquarters | Washington, D.C., U.S. |
| Employees | 4,547 FTE (FY 2022) |
| Annual budget | $2.6 billion |
| Agency executives |
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| Website | sec.gov |
| Footnotes | |
The United States Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce the federal securities laws, regulate key parts of the capital markets industry, protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
Congress created the SEC in 1934 after the stock market crash of 1929 as part of New Deal securities reforms. Section 4 of the Securities Exchange Act of 1934 established the agency. The SEC administers the principal federal securities laws, oversees disclosures by public companies, key market intermediaries, investment products and trading venues. It also investigates and enforces against misconduct such as financial fraud, insider trading, and market manipulation.
The SEC carries out its work through rulemaking, examinations, and enforcement actions. The agency enforces the securities laws primarily through civil actions in federal court or administrative proceedings and refers potential criminal violations to the Federal Bureau of Investigation or the Department of Justice when appropriate.