SIE Regulators and Market Participants Guide

Use this section when you need the SIE version of U.S. market oversight and market-participant basics. Start with the core regulators first, then move into self-regulatory organizations, state regulators, exchanges, clearing agencies, issuers, broker-dealers, and the institutional participants that appear repeatedly in SIE questions.

In this section

• Securities and Exchange Commission (SEC)
  Understand the SEC's role, authority, and importance in U.S. securities regulation.
• Self-Regulatory Organizations (SROs)
  Review the role of FINRA, exchanges, and other self-regulatory organizations in the securities industry.
• State Regulators and NASAA
  Study the role of state securities regulators and NASAA in investor protection and registration.
• Federal Reserve and Other Regulators
  Review how the Federal Reserve and other regulators affect markets and securities activity.
• Roles of Market Participants
  Understand the roles of issuers, broker-dealers, advisers, underwriters, and other market participants.