the Securities and Exchange Commission
/ðə sɪˌkjʊərətiz ən ɪksˈtʃeɪndʒ kəmɪʃn/
/ðə sɪˌkjʊrətiz ən ɪksˈtʃeɪndʒ kəmɪʃn/
(abbreviation the SEC)
- an independent US government organization responsible for controlling the financial markets and making sure that people and companies that deal on the stock exchange do not break the law. It investigates complaints and can take people to court for illegal operations. The SEC was established in 1934 and its five members are chosen by the US President.