00:01
I have the role of the securities and exchange commission in the context of this scenario.
00:07
The securities and exchange commission, or sec, plays a critical role in regulation and oversight of the securities industry and financial markets in the united states.
01:11
So their roles include regulatory enforcement, because they're responsible for enforcing federal securities laws such as the securities act of 1933 and the securities exchange act of 1934.
01:42
They are also in charge of investor protection.
01:56
They ensure that investors have access to accurate and timely information about securities and investments.
02:03
So this involves overseeing financial disclosures and preventing fraudulent or misleading activities that can harm investors.
02:12
They are also in charge of market oversights.
02:15
They regulate and monitor security markets to maintain fair and efficient markets.
02:31
They also do rule -making.
02:33
They develop and put into effect policies and guidelines that control the security industry.
02:45
It also has the authority to look into potential violations of securities laws, conduct enforcement actions, and impose penalties.
02:59
It is also involved in developing laws that affect the security business.
03:16
So how can congress affect its actions? they can significantly influence sec.
03:23
They can do this through legislation.
03:31
Congress can enact legislation or laws that directly affect sec's jurisdiction and obligations.
03:41
And they can also confirm commissioners.
04:02
The senate must confirm the sec commissioners that the president proposes.
04:12
They're also in charge of oversight and investigations.
04:20
The sec's operations are regulated by congressional committees, including senate banking committee and house financial services committee.
04:29
So to ensure accountability and openness, they look into sec's operations.
04:36
And basically, they regulate what sec does.
04:41
Next, we have budgetary control...