The Securities and Exchange Commission (SEC) is the Wall Street regulator responsible for enforcing federal securities laws, protecting investors, and maintaining fair and orderly functioning of the securities markets. The SEC is an independent government agency that was established in 1934 following the stock market crash of 1929. It is composed of five commissioners appointed by the President of the United States and confirmed by the Senate. The SEC's primary mission is to protect investors and ensure that the markets remain fair, orderly, and efficient.