The U. S. Securities and Exchange Commission (SEC) has a three-part mission:
When the stock market crashed in October 1929, so did public confidence in the U.S. markets. Congress held hearings to identify the problems and search for solutions. Based on its findings, Congress – in the peak year of the Depression – passed the Securities Act of 1933. The following year, it passed the Securities Exchange Act of 1934, which created the SEC.
The main purposes of these laws can be reduced to two common-sense notions: