What Is the Securities and Exchange Commission (SEC)?

The United States Securities and Exchange Commission (SEC-the US Securities and Exchange Commission) was established in 1934 under the Securities Exchange Act. It is an independent quasi-judicial agency directly under the United States Federation. . The Securities and Exchange Commission is headquartered in Washington, DC. It has five members nominated by the president and passed by Congress, five functional departments, and 23 offices. Approximately 4,600 employees are located in Washington and 11 regional offices across the country. The United States Securities and Exchange Commission (SEC) has quasi-legislative, quasi-judicial, and independent enforcement powers.

SEC

U.S. Securities and Exchange Commission. Abbreviation: SEC. Established under the Securities Exchange Act 1934

In the 1920s, companies in the securities market made huge profits by not providing investors with relevant information.

The Securities and Exchange Commission is headquartered in Washington, DC. It has five members nominated by the president and passed by Congress, five functional departments, and 23 offices. Approximately 4,600 employees are located in Washington and 11 regional offices across the country.

The most well-known securities regulatory law on which the SEC is based is the Securities Act of 1933, which is based on the protection of investors, especially small and medium-sized securities investors. Often referred to as the "truth in securities" law. There are two basic points:

1. Securities investors have the right to obtain all financial information and other important information of companies that publicly sell securities on the market.

2. It is prohibited for securities brokers, securities traders, securities trading institutions, etc. to defraud investors, provide false information, etc. in securities sales.

Other regulations include the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, and the 1940 Investment Advisors Act (Investment Advisers Act of 1940), Sarbanes-Oxley Act of 2002.

The United States Securities and Exchange Commission (SEC) has quasi-legislative, quasi-judicial, and independent enforcement powers.

First of all, it has a clear purpose: to seek maximum investor protection and minimal securities market intervention, to limit fraud, fraud, excessive speculation, and insider trading in securities activities, and to maintain

The U.S. Securities and Exchange Commission officially proposes the establishment of an independent oversight body, the Public Responsibility Committee, which is specifically responsible for monitoring and checking whether accounting practices of accounting companies and listed companies are in accordance with professional ethics, whether their accounting operations are standardized, and whether their business level reaches the quality of accounting Standards and more. In order to ensure the independence of this institution and a high level of professionalism in the financial and accounting business at the same time, the members of the new institution will be mainly composed of people outside the financial and accounting industry, a few experts in the financial and accounting industry, and retirees. The Securities and Exchange Commission also recommends charging accounting companies and listed companies to support the operation of the new regulator. The establishment of the new organization will change the status of companies' long-term management of their own finances and audits.

As early as March 21, 2002, the chairman of the United States Securities and Exchange Commission, Peter, testified before the Senate that the commission will be mainly responsible for handling financial fraud cases, and the brewing public responsibility committee will be responsible for the ethics and accounting operations of the accounting department. Quality supervision does not involve legal issues. This shows that the purpose of the US Securities and Exchange Commission's proposal to establish a public responsibility committee is to strengthen financial supervision from different aspects.

The United States Securities and Exchange Commission was established in 1934 and is the responsibility of the U.S. government

US Eastern Time May 1, 2008 News,

When the company is performing well, the SEC does not investigate companies that have been reverse-acquired. This is very different from an IPO. When these companies have problems, the interests of American investors will be affected. Losses, and then the SEC will investigate these companies. Chinese law does not prohibit Chinese companies from providing necessary financial information to foreign regulators, but these Chinese companies are reluctant to provide information to the SEC. In this case, the SEC will choose to take action on the audit institutions of these Chinese companies to confirm whether the audit quality is reasonable. Regardless of whether these audit institutions are the "Big Four" branches in China or local Chinese audit institutions, the SEC will require Auditing agencies submit their working papers to these companies, but Chinese law does not allow Chinese auditing organizations to provide working papers to foreign regulators.

On August 19, 2019, Sandra Kuba, a former senior financial analyst at Disney, submitted a series of materials to the Securities and Exchange Commission (SEC), declaring that the Disney theme park and resort business unit uses the company's accounting system Vulnerabilities systematically exaggerate billions of dollars in revenue. The SEC is involved in the investigation. ^[2]