[20200415]IF10032_金融服务简介：美国证券交易委员会（SEC）.pdf

https:/crsreports.congress.gov Updated April 15, 2020Introduction to Financial Services: The Securities and Exchange Commission (SEC)Origins, Structure, and Market Oversight To help restore confidence in the securities markets in the wake of the stock market crash of 1929, Congress passed the Securities Exchange Act of 1934, which authorized the creation of the Securities and Exchange Commission (SEC). The SEC is an independent, nonpartisan regulatory agency responsible for administering federal securities laws. It has broad regulatory authority over significant parts of the securities industry, including stock exchanges, mutual funds, investment advisers, and brokerage firms. The SEC oversees federal securities laws broadly aimed at (1) protecting investors; (2) maintaining fair, orderly, and efficient markets; and (3) facilitating capital formation. These laws provide clear rules for honest dealing among securities market participants, including antifraud provisions, and disclose information deemed necessary for informed investor decisionmaking. The SECs budget is set through the congressional appropriations process. The appropriations are offset by sale fees on stock and other