Office address: 100 F Street, NE, Washington, DC 20549
Website: sec.gov
Year established: 1934
Company type: federal government agency
Employees: 4,300+
Expertise: securities regulation, investor protection, market oversight, enforcement, capital formation, compliance, crypto asset regulation, financial education, risk assessment, rulemaking
Parent company: N/A
Key people: Paul Atkins (chair); Hester Peirce, Caroline Crenshaw, and Mark Uyeda (commissioners); Brian Daly, Cristina Firvida, and Lori Schock (directors)
Financing status: N/A
The US Securities and Exchange Commission (SEC) is a federal agency based in Washington, DC. It oversees the US securities industry, protects investors, and supports fair and efficient markets. As of 2025, the SEC monitors over $100 trillion in annual securities trading.
In 1934, the Securities and Exchange Commission was created when the Securities Exchange Act became law. This action aimed to address the fallout from the 1929 market collapse and restore stability.
President Roosevelt signed the Act and named Joseph P. Kennedy as the inaugural chairperson. The agency's mission focused on safeguarding investors and rebuilding trust in the financial system.
In the years that followed, the SEC gained new powers, including oversight of utility holding companies through the Public Utility Holding Company Act of 1935. This allowed the agency to break up complex utility empires and require greater transparency.
The SEC also played a key role in enforcing the Glass-Steagall Act, which helped separate commercial and investment banking. These efforts helped bring investors back to the markets, especially after World War II boosted economic growth.
The SEC's influence grew as new laws and amendments expanded its reach, including the Securities Acts Amendments of 1975 and the Dodd-Frank Act of 2010. The agency developed tools like the EDGAR database, which made company filings accessible to the public.
Over the years, the agency has investigated and prosecuted many high-profile cases, from insider trading to corporate fraud.
In 2025, two important developments affected the path of the US Securities and Exchange Commission. Chair Paul Atkins called for a review of private fund investment rules, aiming to open the $31 trillion private fund market to more investors.
At the same time, the SEC saw a sharp reduction in staff, as up to 700 employees accepted buyout offers during a federal workforce restructuring. These changes raised questions about the agency's ability to maintain strong oversight while adapting to new market realities.
The US SEC offers a range of regulatory, compliance, and investor support services.
The agency also provides educational resources for investors. Its tools help ensure transparency and fair practices in US markets.
The SEC states its mission is to make a positive impact on the US economy and capital markets. The agency says that their staff are dedicated public servants focused on protecting investors and supporting financial security for others.
To support their employees, the SEC provides them with these benefits:
The SEC also follows the Rehabilitation Act and Architectural Barriers Act to ensure accessibility for all. Its programs, technology, and facilities must be accessible to people with disabilities, including employees and applicants. Applicants needing accommodation can submit a request form at least five business days before the needed date.
Paul S. Atkins became SEC chair on April 21, 2025, after Senate confirmation. Atkins previously led Patomak Global Partners and chaired BATS Global Markets. He also served as the agency's commissioner and earned law degrees from Vanderbilt and Wofford College.
The SEC's leadership team includes commissioners and directors helping Atkins lead key regulatory and investor initiatives:
Serves as commissioner, focusing on digital assets and market structure issues.
Known for her work on investor protection and enforcement.
Works as commissioner, bringing experience in investment management and regulatory policy.
Director, office of the investor advocate, supporting investor interests and outreach.
Serves as director, division of investment management, overseeing regulation of investment companies and advisers.
Director, office of investor education and advocacy, leading public education and outreach programs.
Commissioners may serve up to 18 months past their term if not replaced. The President appoints the chair, and the SEC limits any one political party to three commissioners.
The SEC released new guidelines in March 2025 to clarify how investment advisers should show performance in their marketing. By setting clear rules for reporting both gross and net returns, the agency helps firms update their materials and avoid confusion for clients. This move supports transparency and gives investment advisers better direction for future advertising and compliance.
The agency also shifted its focus in 2025 to clear investor fraud cases as enforcement actions dropped sharply. This change followed a 15 percent workforce reduction and a new chair, Paul Atkins, who signaled a less aggressive approach. Its new priorities may shape how investment advisers and firms prepare for compliance and enforcement in the years ahead.
LPL Financial is missing a potential multi-million dollar penalty.
The SEC rule would restore only third-month data in a fund’s fiscal quarter being made public, and extending the forms monthly deadline to 45 days after month-end.
Cutter Financial Group LLC was ordered to pay $150,000 in total civil penalties, and a five-year requirement the firm provide a copy of the ruling to all existing investment advisory clients and all new investment advisory clients
Along with a $1.18 million fine, the judgment permanently enjoins Bluesky Eagle from future violations of the Investment Advisers Act, and permanently enjoins its owners and executive officers from filing Form ADV as an Exempt Reporting Adviser'
With Inspired Healthcare filing for bankruptcy, the question is, what are their private deals really worth?
False contract claims, inflated leasing numbers, and millions in fees investors never knew about.
The new rule would give certain funds an additional 15 days to file monthly portfolio-related reports, and would reverse the 2024 shift to publication more frequent than quarterly.
The new interpretations address moving an offering between intermediary platforms; issuer eligibility where Exchange Act reporting has ended; how the 12 month crowdfunding offering cap is measured; and other definitions and filings.
The order for a ban follows guilty plea to wire and investment adviser fraud, with more than $3 million taken from five clients in a multiyear scheme.
The person supposed to prevent fraud orchestrated it. Nobody was watching the watchdog.
The SEC said the alleged did not invest client funds as represented and instead misappropriated the proceeds, including making $940,000 in Ponzi-like payments and spending nearly $3.2 million on personal expenses.
The SEC said the alleged did not invest client funds as represented and instead misappropriated the proceeds, including making $940,000 in Ponzi-like payments and spending nearly $3.2 million on personal expenses.
Beginning in 2021, Lisa Boisselle and her firm Wealthwise solicited clients to invest in two crypto asset-related programs, according to Arizona regulators.
Policy group urges Washington to ease fiduciary constraints it sees imposed on trillions in workplace retirement dollars.
Case survives dismissal attempt. Musk faces potential $150M disgorgement.
