The US Securities and Exchange Commission is known by the initials SEC. It was established on June 6th, 1934, as a separate governmental organization. The SEC is in charge of policing and keeping an eye on the financial markets, with a particular emphasis on the American securities markets (such as stocks and bonds). According to their website, "The mission of the SEC is to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC strives to promote a market environment that is worthy of the public's trust." The primary principle driving the establishment of the SEC is that investors and traders should all have equal access to pertinent information before making a purchase. As a result, the SEC's work makes sure that dealers, exchanges, and brokers treat investors fairly. Additionally, the SEC drafted legislation requiring public corporations to disclose all pertinent financial data to the public. As a result, prior to making investment decisions, all types of investors have access to the same information. Periodic financial reports and educational materials are also published by the SEC. On the SEC's electronic database known as EDGAR (Electronic Data Gathering, Analysis, and Retrieval system), investors can also discover the quarterly and annual reports submitted by publicly traded and regulated corporations. Working together, the SEC and CFTC are attempting to stop fraudulent practices in the financial markets, like Ponzi and pyramid scams. The CFTC, on the other hand, is concentrated on the oversight of derivatives markets, which encompass options and futures contracts. Along with false information and accounting fraud, insider trading is one of the most frequent SEC violations. When the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted by US president Barack Obama, shortly after the 2008 Financial Crisis, the SEC and the CFTC were given more power. Division of Corporation Finance Division of Trading and Markets Division of Investment Management Division of Enforcement Division of Economic and Risk Analysis are the SEC's five main operational divisions as of 2019.