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Securities and Exchange Commission

An official body set up in the U.S.A. to oversee the behaviour of the American Stock Exchange and the financial scene generally. It has considerable powers, even if they are rarely used, to regulate public offers of shares and securities and to keep a watch on such matters as insider dealings. Although there is no equivalent body in the U.K., the possibility of one emerging in a similar form should not be discounted as the size and power of companies increase.

Reference: The Penguin Business Dictionary, 3rd edt.