BANKS »» BANK REGULATION »» SECURITIES AND EXCHANGE COMMISSION »» Feb 15, 2021

The Securities and Exchange Commission (SEC) was created during the Great Depression to protect the interests of investors. Its 4,000 employees oversee nearly 12,000 investment counselors, 10,000 mutual funds and 4,500 brokerage firms. Many people think the SEC has not been very effective in doing its job of making rules, preventing fraud and maintaining fair and orderly markets. The SEC has been plagued by problems and mistakes such as conflict-of-interest questions in its general counsel