Share The stock exchange is so large, so complex, that you can’t understand it by average Americans, experts say.
The SEC has made a big push to help the financial sector, which has been reeling from a collapse in the value of the dollar following Donald Trump’s election as president.
On Thursday, the agency said it is taking over a new, expanded authority that will give it broad new powers to monitor and regulate stock market prices, which it could also use to oversee the financial industry.
The new authority will be used to help ensure that the U.S. stock market operates like a free market, rather than an open market where it has been manipulated, according to a release from the SEC.
The agency said the new authority would require the SEC to act quickly and decisively to protect the financial system from “unfair market forces.”
It also would give the agency more authority to enforce securities laws.
The announcement comes as stocks have been rallying in anticipation of the new SEC action.
The S&P 500 index is up nearly 23% this year, thanks to Trump’s win, while the Dow Jones Industrial Average is up more than 21%.
Trump’s administration has been pressuring financial regulators to act more aggressively to prevent market manipulation and insider trading, saying it will punish Wall Street firms that do so.
The financial industry is a key battleground in the Trump administration’s effort to curb what it sees as an unfair and abusive market, with Wall Street giants and large investors pushing for a regulatory overhaul.
The Trump administration has also called for more government oversight of the financial markets and said it wants to increase regulation of the investment industry to help prevent the next financial crisis.