Which U.S. agency is the primary federal regulator of securities markets?

The Securities and Exchange Commission is the primary U.S. federal regulator of securities markets.

The agency, commonly called the SEC, was created by the Securities Exchange Act of 1934 during the New Deal era. Its responsibilities include enforcing federal securities laws, overseeing securities exchanges and certain market participants, and requiring public companies to provide specified disclosures.

The SEC does not set the prices of stocks or guarantee that investments will make money. Its role is to support market integrity, investor protection, and access to important information. It also brings civil enforcement actions against suspected violations such as insider trading and fraudulent financial reporting.

The Commodity Futures Trading Commission primarily oversees futures and swaps, while banking regulators and state authorities have other responsibilities. Several agencies can therefore affect financial markets, but the SEC is the central federal securities regulator.