SEC means the United States Securities and Exchange Commission.

At the beginning of the 20th century, many frauds and manipulations occurred in the U.S. securities market, causing many investors to suffer heavy losses.

In order to protect the interests of investors and regulate the securities market, the U.S. Congress passed the Securities Exchange Act and established the SEC to enforce the law.

The SEC's responsibility is to ensure that the U.S. securities markets are fair, transparent, and efficient.

Specifically, the SEC is responsible for formulating and enforcing securities regulations, supervising and reviewing listed companies, investigating and punishing violations, and protecting the interests of investors.

The SEC is composed of five commissioners, each appointed by the president and confirmed by the Senate.

The Chairman and Vice-Chairmen of the Commission are appointed by the President for limited terms.

The SEC has multiple departments and offices, including the Corporate Finance Department, Market Supervision Department, Investment Management Department, Law Enforcement Department, etc.

The objects of SEC supervision include listed companies, stock exchanges, securities underwriters, investment banks, fund companies, hedge funds, traders and other institutions and individuals involved in the securities market.

SEC’s impact on the global securities market: 1. SEC’s regulatory standards and rules have a demonstration effect on the global securities market.

As the world's most developed securities market regulator, the SEC's regulatory standards and rules are regarded as the reference standards for the global securities market.

Securities regulatory agencies in many countries and regions will refer to and learn from the SEC's practices when formulating their own regulatory standards and rules.

The SEC's regulatory standards and rules have guiding significance for the global securities market and help promote the standardized development of the global securities market.

2. The SEC’s supervision of cross-border securities issuance and trading allows global investors to participate in the U.S. securities market more conveniently.

The SEC's relatively open supervision of cross-border securities issuance and trading has led many world-renowned companies to choose to list in the United States.

The SEC's protection of cross-border investors also makes it easier for global investors to participate in the U.S. securities market.

This not only promotes the flow of global capital, but also allows global investors to allocate assets more diversified.

3. SEC’s regulatory cooperation on global securities markets also enables countries to jointly respond to cross-border risks.

With the continuous integration of global securities markets, cross-border risks have become a common problem faced by regulatory agencies in various countries.

The SEC maintains close cooperation and communication with securities regulatory agencies in other countries and regions, and jointly responds to cross-border risks through information sharing and joint enforcement.

This cooperation mechanism can help improve the transparency and predictability of the global securities market and reduce the impact of cross-border risks on the market.