The Securities and Exchange Commission is a regulatory agency in the U.S. tasked with protecting investors, maintaining fair and efficient markets and facilitating capital formation. 

The SEC was established in 1934 during the Great Depression and following Congress' passage of the Securities Act of 1933, which is the first federal law that regulated the issuance of securities. The agency was created to regulate and enforce that legislation. 

The SEC oversees broker-dealers, investment companies, investment advisers, clearing agencies, transfer agents, credit rating agencies and securities exchanges. The agency also oversees organizations such as the Financial Industry Regulatory Authority, the Municipal Securities Rulemaking Board and the Public Company Accounting Oversight …