What the SEC Is: The SEC is the nickname for the U.S. Securities
and Exchange Commission, which was created in 1934 to restore
the publics confidence in the stock market after the Great
Depression of 1929. The first Chairman was Joseph Kennedy,
President John Kennedys father. Today, the SEC consists of five
Commissioners who are appointed by the President. They are
supported by 3,100 staff located in 18 offices across the
country. There are four divisions, - Division of Corporate
Finance, which reviews corporate filing - Division of Market
Regulation, which maintains the standards that regulate the
stock markets. - Division of Investment Management, which
regulates investment management companies, including mutual
funds. - Division of Enforcement, which investigates and
prosecutes violations of securities laws and regulations. What
the SEC Does: Most importantly, the SEC maintains confidence in
the U.S. stock market, which is critical to the strong of the
U.S. economy. It does this by providing transparency i