SEC stands for the U.S. "Securities and Exchange Commission". It is an independent federal government regulatory body that is responsible for safeguarding investors, ensuring the fair and orderly operation of the securities markets, and promoting capital formation.

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The SEC encourages complete public disclosure, defends investors from dishonest and market-manipulating techniques, and keeps an eye on corporate takeover activities in the country. Additionally, it permits bookrunner registration declarations among underwriting companies.