Independent Federal Agencies and Bureau

Focus on depository institutions

• Federal Deposit Insurance Corp (FDIC) - created during the Great Depression (1929), it provides insurance for up to $250,000 deposits at member banks/financial institutions.  Banks pay FDIC premiums on the insurance.

• National Credit Union Administration (NCUA) regulates and supervises federal and state credit unions

Focus on financial markets

• Securities and Exchange Commission (SEC) - oversees securities markets and participants like stock exchanges, brokers, dealers, investment advisors, mutual funds

Common forms filed at the SEC

• Prospectus - provides details about an investment offering for sale (like stocks, bonds, and mutual funds) to the public

• 10K - annual report providing a comprehensive overview of the company’s operations and financial conditions.  10Q is the quarterly report

• 8K - announcement of material events to shareholders like management change or significant acquisition

• Proxy Statement - documents provided to shareholders on matters at the annual or special meetings

• Commodity Futures Trading Commission (CFTC) - regulates commodity futures and options markets

Focus on Consumer Protection

• Consumer Financial Protection Bureau (CFPB) - protects consumers by regulating financial products and services like mortgages, credit cards and student loans - created after the Great Financial Crisis of 2008