is the sec the same as finra 
no the sec is the u s regulator charged with setting rules concerning the issuing marketing and trading of securities the sec is also charged with protecting investors finra formerly nasd is a nonprofit self regulatory industry organization that oversees broker dealers and issues licenses to securities professionals 18 when finra takes punitive action against those it oversees those decisions are appealed to the sec who oversees the sec the sec is an independent federal agency headed by a bipartisan five member commission composed of the chair and four commissioners appointed by the president and confirmed by the u s senate 24 the sec is accountable to congress and operates under the authority of federal laws that include the securities act of 1933 the securities exchange act of 1934 the investment company act of 1940 the investment advisers act of 1940 and the sarbanes oxley act of 2002 among others the sec is an independent federal agency established in 1934 to regulate the u s securities markets and protect investors created in the wake of the 1929 stock market crash the sec oversees securities exchanges broker dealers investment advisors and other market participants it also enforces federal securities laws proposes securities regulations and oversees the securities industry the nation s stock and options exchanges and other electronic securities markets over time the sec s role and authority have evolved in response to changing markets and legislative actions the agency has played a crucial role in maintaining confidence in u s markets both at home and abroad however recent developments including the 2024 supreme court decision in sec v jarkesy have reshaped the sec s enforcement abilities the 2024 ruling limits the sec s ability to impose civil penalties through administrative proceedings requiring such actions to be pursued in federal court for securities fraud cases as the financial landscape continues to evolve particularly with the rise of new technologies and investments the sec s role remains critical in balancing investor protection with the promotion of capital formation and market efficiency 