3.2 THE SECURITIES AND EXCHANGE COMMISSION
As declared by the SEC, its mission is to protect investors, maintain fair, orderly and efficient
markets, and facilitate capital formation. First and foremost, the SEC is a law enforcement
agency. The SEC oversees the key participants in the securities arena, including securities
exchanges, securities brokers and dealers, investment advisors, and mutual funds. The aim
of the SEC is to promote the disclosure of important market-related information, maintain
fair dealing and provide protection against fraud. The SEC cannot work in a vacuum and is
dependent on and seeks to work with other institutions, as described in Box 3.2.
Box