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Securities and Exchange Commission (SEC)

The Securities and Exchange Commission is an agency of the United States federal government charged with enforcing statutes regulating the securities industry. It was created in 1934 for the purpose of enforcing the Securities Act of 1933, legislation that was part of Franklin D. Roosevelt's reform measures collectively referred to as the New Deal, which came in response to the devastating Stock Market Crash of 1929 and the subsequent Great Depression.

The SEC is a non-partisan regulatory agency with quasi-judicial powers. Its primary purpose is to enforce the laws so as to maintain public confidence and trust in the country's financial markets. The SEC has the authority to bring civil actions against companies and individuals guilty of accounting fraud, insider trading, providing false information, and other acts committed in violation of securities law. The SEC works in conjunction with criminal law enforcement agencies when violations are sufficiently severe to warrant such action.

More Glossary Terms Explained here


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