SEC Regulatory Framework
Securities and Exchange Commission regulations for US capital markets.
View original at Securities and Exchange Commission
SEC Regulatory Framework
The Securities and Exchange Commission (SEC) is the primary regulator of US securities markets, protecting investors and maintaining fair, orderly, and efficient markets.
SEC Mission
- Protect investors
- Maintain fair, orderly, and efficient markets
- Facilitate capital formation
Key Regulations
Securities Act of 1933
- Registration of securities offerings
- Prospectus requirements
- Liability for misstatements
Securities Exchange Act of 1934
- Registration of broker-dealers
- Securities exchanges regulation
- Continuous disclosure requirements
- Proxy rules
- Tender offer regulations
Investment Company Act of 1940
- Mutual fund regulation
- Investment company registration
- Fiduciary duties
Investment Advisers Act of 1940
- Adviser registration
- Fiduciary standard
- Disclosure requirements
Dodd-Frank Act (2010)
- Systemic risk oversight
- Volcker Rule
- Derivatives regulation
- Enhanced prudential standards
Registration and Reporting
Form 10-K
- Annual report
- Business description
- Financial statements
- MD&A
- Risk factors
Form 10-Q
- Quarterly reports
- Unaudited financials
- Material updates
Form 8-K
- Current reports
- Material events
- Timely disclosure
Regulation S-K
- Non-financial disclosure requirements
- Business description
- Legal proceedings
- Executive compensation
Regulation S-X
- Form and content of financial statements
- Accounting requirements
Enforcement
Enforcement Division
- Investigate violations
- Bring civil actions
- Administrative proceedings
Penalties
- Disgorgement
- Civil monetary penalties
- Injunctions
- Officer and director bars