Securities And Exchange Commission (sec)
Definition of "Securities and exchange commission (sec)"
Federal agency that regulates the securities markets. The independent, five-member commission was created under the Securities Exchange Act of 1934 to enforce the securities act of 1933. Members are appointed by the president and serve five-year terms. The SEC has responsibility to regulate securities exchanges and markets, to set disclosure and accounting rules for most issuers of corporate securities, and to oversee securities firms, investment companies, and investment advisers.
Popular Insurance Terms
Guarantee by a reinsurance company that payment for losses incurred by a third party will be made even though that third party has no contractual arrangement with the reinsurance company. ...
Situation wherein the agent's conduct causes a client or prospective insured reasonably to believe that the agent has the authority to sell an insurance policy and contract on behalf of the ...
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Insurance salesperson who markets and services policies in one or more states and holds a supervisory position. ...
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