What Is The Securities and Exchange Commission (SEC)?

Patrick Curtis

Reviewed by

Patrick Curtis WSO Editorial Board

Expertise: Investment Banking | Private Equity

The SEC (also known as Securities and Exchange Commission) is a body set up by the US Congress with the purpose of regulating the security and takeover market. The SEC is needed for the protection of investors and to prevent any possible fraud. All public companies have to submit financial statements to the SEC and any corporate action in which a company acquires 5% or more equity in another firm must be reported to the SEC.

The SEC is made up of 5 commissioners, each of which is appointed and approved by the President of the US and the US Senate.

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Patrick Curtis

Patrick Curtis is a member of WSO Editorial Board which helps ensure the accuracy of content across top articles on Wall Street Oasis. He has experience in investment banking at Rothschild and private equity at Tailwind Capital along with an MBA from the Wharton School of Business. He is also the founder and current CEO of Wall Street Oasis. This content was originally created by member WallStreetOasis.com and has evolved with the help of our mentors.