Securities and Exchange Commission
The Securities and Exchange Commission (SEC) is the principal U.S. regulator for capital markets, brokerages, and public-company disclosure. Headquartered in Washington, D.C., the Commission brings several hundred civil enforcement actions a year, most of which are resolved through negotiated settlements rather than litigation.
In May 2026, the Commission — under Chairman Paul Atkins — rescinded its 54-year-old no-admit, no-deny settlement policy (Rule 202.5(e)), ending one of the most contested informal rules in U.S. securities enforcement. New Enforcement Director David Woodcock has signaled a continued focus on traditional fraud, financial reporting violations, insider trading, and individual accountability.