U.S. Securities and Exchange Commission

The United States Securities and Exchange Commission ( SEC ) is responsible as the U.S. Securities and Exchange Commission for the control of securities trading in the United States. It is based in Washington, D.C. (100 F Street, NE Washington, D.C. 20549 ).


The SEC was established in response to the Wall Street Crash of 1929 on June 6, 1934 the Securities Exchange Act, to create a government supervision of the hitherto uncontrolled running securities transactions. Your tasks are to check the trade on legality and regularity and compliance with stock exchange legal arrangements. To perform these tasks you extensive legislative, executive and judicial powers have been granted, so that it is sometimes referred to as the " Fourth Estate ".

All companies that wish to use the American capital market must register with the SEC. Only when the SEC gave its approval, a company can get set up on the New York Stock Exchange. Together with the FASB ( Financial Accounting Standards Board ) are the accounting rules, their interpretations, etc. disclosed.

The SEC ensures that the company information that could be important for investors publish, - such as the financial situation of the company. This information must be published in a prescribed form (see web link). For years results have the Form 10 -K and quarterly results correspond to the Form 10 -Q.


The SEC consists of five Commissioners who are appointed by the President of the United States with the advice of the Senate and used by permission. A term of office is five years. The term of office is staggered so that each year on 5 June, a commissioner changes. To ensure the independence of the Commission, more than three members may come from the same party. The President shall appoint one of the Commissioners as Chairman; since April 10, 2013 Mary Jo White has held this position. This was nominated on January 24, 2013 U.S. President Barack Obama Mary Jo White for this office.

The SEC has about 3,748 employees. In addition, support various committees whose employees will be provided for example by rating companies such as American Appraisal, the work of the Authority.

The SEC maintains an online database called EDGAR (Electronic Data Gathering -, Analysis, and Retrieval), where investors have free access to company-specific information. Jon Rymer since May 30, 2012 Interim Inspector General of the Authority.


First time in 2009 (CEO ), the enforcement division appointed a so-called leader, the 29 -year-old Adam Storch. He was employed by Goldman Sachs since 2004. After the experience of the scandal surrounding Bernard L. Madoff, in which serious deficiencies on the part of the SEC had occurred, the director used to remedy these shortcomings Robert Khuzami Stork appointed CEO for the area of ​​complaints, notices and restitution to injured investors. Since taking office, Khuzami has dismissed 40 % of managers and hired staff for research in return. Khuzami has five years lawyers accountable, at Deutsche Bank, who CDOs worked.

Once in May 2010, a surprising jump in price over almost 1000 points on the New York Stock Exchange had occurred, investigations by the SEC have been included on the causes. While the exact cause remains unclear, a uniform system of computerized trading is considered, which is to prevent the lightning fast spread of panic-stricken reactions.