The U.S. SEC
What is the mission of SEC?
The U.S. SEC have mission to look after investors, preserve adequate, arranged, and well-organized markets, and smooth the progress of capital arrangement. The SEC’s investor shield mission is more convincing than ever, as increasingly first-time investors set sights on to the markets to assist protect their futures, provide financial support for homes, and pass children on to college (“About SEC”, 2006).
The SEC workers are the most essential resource. Their members of staff have roots in varied qualifications and collaborate to perform their mission of assisting the investing community. The SEC also supervises other vital partakers in the securities world, consisting of stock exchanges, broker-dealers, investment consultants, joint funds, and public service holding companies. The SEC is focused mainly with publicizing revelation of significant information, imposing the securities regulations, and looking after investors who interrelate with the diverse organizations and persons (“About SEC”, 2006).
- How many commissioners does SEC have and who appoints them?
Through the recommendation and permission of the Senate, President of the United States appoints five Commissioners in the SEC. Their periods take five years and are spread over a period, therefore that one Commissioner’s term finishes on June 5 of every year. To make sure that the Commission stays behind non-partisan, just three Commissioners may be a member of the same faction. As well, the President chooses one Commissioner as Chairman, the SEC’s top executive. The current SEC Commissioners are including Christopher Cox as Chairman, and Paul S. Atkins, Roel C. Campos, Annette L. Nazareth, Kathleen L. Casey as Commissioners (“Current SEC Commissioners”, 2006).
- How many divisions and offices does SEC have?
SEC has four divisions, which includes Corporation Finance Division, Enforcement Division, Investment Management Division, and Market Regulation Division (“Division and Offices Homepages”, 2006).
Besides, SEC has twenty offices that includes Office of Administrative Law Judges, Office of Administrative Services, Office of the Chief Accountant, Office of Compliance Inspections and Examinations, Office of Economic Analysis, Office of Equal Employment Opportunity (EEO), Office of the Executive Director, Office of Filings and Information Services, Office of Financial Management, Freedom of Information and Privacy Act (FOIA/PA) Office, Office of the General Counsel, Office of Human Resources, Office of Information Technology, Office of Inspector General, Office of International Affairs, Office of Investor Education and Assistance, Office of Legislative and Intergovernmental Affairs, Office of Public Affairs, Office of Risk Assessment, and Office of the Secretary (“Division and Offices Homepages”, 2006).
- Briefly explain the difference between the Securities Act of 1933 and the Securities Exchange Act of 1934.
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Because of issuing securities in what is recognized as the core market, companies produce billions of dollars. Compared to the Securities Act of 1933 that polices these initial issues, the Securities Exchange Act of 1934 polices the minor trading of the securities among individuals frequently unconnected to the issuer. Billions of dollars are produced and misplaced every year in the course of trading in the minor market (“The Laws That Govern the Securities Industry”, 2006).
About SEC. (2006). Retrieved July 12, 2007, from <http://www.sec.gov>
Current SEC Commissioners. (2006). Retrieved July 12, 2007, from <http://www.sec.gov/about/commissioner.shtml>
Division and Offices Homepages. (2006). Retrieved July 12, 2007, from <http://www.sec.gov/divisions.shtml>
SEC OPERATIONS. Increased Workload Creates Challenges. (2006). Retrieved July 12, 2007, from <http://www.gao.gov/new.items/d02302.pdf>
Securities Exchange Act of 1934. (2007). Retrieved July 12, 2007, from <http://www.gsionline.com/features/securities-exchange-act-of-1934.html>
The Laws That Govern the Securities Industry. (2006). Retrieved July 12, 2007, from <http://www.sec.gov/about/laws.shtml>