SEC(redirected from SECC)
Also found in: Dictionary, Thesaurus, Medical, Legal, Acronyms, Encyclopedia, Wikipedia.
Securities & Exchange Commission
The SEC was created in 1934 as part of the New Deal to prevent excessive speculation. It is overseen by five commissioners, who are appointed by the President of the United States upon confirmation by the Senate. No more than three commissioners may belong to the same political party.
Securities and Exchange Commission (SEC).
The Securities and Exchange Commission (SEC) is an independent federal agency that oversees and regulates the securities industry in the United States and enforces securities laws.
The SEC requires registration of all securities that meet the criteria it sets, and of all individuals and firms who sell those securities. It's also a rule making body, with a mandate to turn the law into rules that the investment industry can follow.
Established by Congress in 1934, the SEC sets standards for disclosure by publicly traded corporations, and works to protect investors from misleading or fraudulent practices, including insider trading.
It has four divisions: Corporate Finance, Market Regulation, Investment Management, and Enforcement.