The Securities and Exchange Commission (SEC)
Chapters in this video
- 0:00 Why the SEC is the boss level of securities regulation
- 1:03 The 1934 Act and the SCAM cheat code
- 2:59 SEC by the numbers: 5 commissioners, 5-year terms, 3-party limit
- 4:43 Jurisdiction traps: what the SEC does NOT regulate
- 5:43 EDGAR versus BrokerCheck: company filings and broker history
- 6:51 Civil enforcement powers and the DOJ criminal boundary
- 7:53 Rapid-fire exam recap
What this video covers
- The SEC's three-part mission (protect investors, maintain fair and orderly markets, facilitate capital formation) and why the Securities Exchange Act of 1934 created the agency
- The SCAM framework under the 1934 Act: SEC creation and Federal Reserve Board margin authority, credit regulation, anti-fraud, and anti-manipulation
- The 5-commissioner structure with staggered 5-year terms expiring June 5, the 3-commissioner party limit, and the 18-month carryover rule
- Why the SEC does not regulate insurance (state level) or commodities futures (Commodity Futures Trading Commission)
- What EDGAR contains (corporate and issuer filings: 10-K, 10-Q, 8-K) and why BrokerCheck is the separate FINRA tool for individual broker background
- The scope of SEC enforcement powers (civil lawsuits, injunctions, fines, disgorgement) and why criminal referrals go to the Department of Justice
Read the full lesson, free
This video's complete written lesson is free to read in the CertFuel app, no signup wall. The complete SIE course in the app is free too, including adaptive practice questions and spaced-repetition flashcards.