The **Securities and Exchange Commission (SEC)** is a U.S. federal regulatory agency established in 1934 by the Securities Exchange Act following the 1929 stock market crash. Its core mission is to **protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation**[1][3][5][7]. The SEC plays a critical role in ensuring transparency and honesty in securities markets by enforcing federal securities laws and requiring public companies to disclose material information about their business and investment risks[5][7]. The SEC has broad authority over the securities industry, including regulation of securities exchanges, brokers, dealers, investment advisers, and mutual funds[4]. It is governed by five presidentially appointed Commissioners, with no more than three from the same political party, and organized into specialized divisions such as Corporation Finance, Trading and Markets, Investment Management, Enforcement, Economic and Risk Analysis, and Examinations[1][6]. Key functions include: - **Investor protection** through enforcement actions, investor education, and whistleblower programs. - **Regulating securities markets** by issuing and enforcing rules to prevent fraud, insider trading, and market manipulation. - **Facilitating capital formation** by helping companies, including small and emerging businesses, raise funds compliantly via public offerings and private placements[1][2][4]. The SEC has been a pivotal institution in restoring and maintaining investor confidence in U.S. financial markets since the Great Depression. It modernizes its approach by adapting to evolving market conditions, such as the rise of financial technology, through initiatives like the FinHub[2]. Its Division of Enforcement, created in 1972, consolidates investigations and legal actions against securities law violations[4]. Today, the SEC combines regulatory oversight with data transparency and public engagement, operating regional offices nationwide and advisory committees to stay attuned to market developments and investor needs[1]. Its continuous efforts ensure the U.S. markets remain trustworthy and accessible, underpinning the economy and technological