Business and Personal Finance Dictionary

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• SECURITIES AND EXCHANGE COMMISSION (SEC)
  
  The SEC is an independent federal agency that oversees and regulates the securities industry in the US, and enforces securities laws. It requires registration of all securities offered in interstate commerce, and of all individuals and firms who sell those securities. Established by Congress in 1934, the SEC sets high standards for disclosure about publicly traded securities, including stocks, bonds, and mutual funds, and works to protect investors from misleading or fraudulent practices, including insider trading. The SEC has also helped to establish a competitive national market system known as Intermarket Trading System (ITS) for trading securities, and set up a system for clearing and settling securities transactions.
  
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