---
category: U.S. Government
location: Washington, D.C.
start: 1934
summary: The Securities and Exchange Commission (SEC) is a U.S. government agency
  responsible for regulating the securities markets and protecting investors.[^1]
tags:
- Organization
- Government
- USA
---

The Securities and Exchange Commission (SEC) is a U.S. government agency responsible for regulating the securities markets and protecting investors.[^1]

### Involvement in BCCI Scandal

The SEC filed suit against [BCCI](/organizations/bank-of-credit-and-commerce-international/), [Agha Hasan Abedi](/people/agha-hasan-abedi/), [Bert Lance](/people/bert-lance/), and others in connection with the purchase of [Financial General Bankshares](/organizations/financial-general-bankshares/) stock.[^1] The nominees used by BCCI to secretly acquire Financial General Bankshares were summarily sued by the SEC for failing to declare that they were acting as a group.[^2]

[^1]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 12.
[^2]: Beaty, Jonathan and Gwynne, S. C. *The Outlaw Bank: A Wild Ride into the Secret Heart of BCCI*. New York: Random House, 1993, p. 183.