SEC definition
SEC
SEC stands for the Security and Exchange Commission, a US government oversight agency that regulates markets and protect investors.
Established in 1934, the SEC consist of a five-person commission with each member serving a five-year term. Together the commission ensures public companies publish regular earnings reports, investors declare when purchasing over 5% of a company, and those who break securities laws are prosecuted.
SEC and forex
While the SEC does not oversee the forex market, the commission will investigate and charge traders and brokerages with fraud. In 2017, Morgan Stanley and Citigroup were forced to pay nearly $3 million apiece for misleading investors regarding a forex trading program.