The Investor's Advocate:

How the SEC Protects Investors, Maintains Market Integrity, and Facilitates
Capital Formation

Introduction
The mission of the U.S. Securities and Exchange Commission is to protect
investors, maintain fair, orderly, and efficient markets, and facilitate
capital formation.

As more and more first-time investors turn to the markets to help secure
their futures, pay for homes, and send children to college, our investor
protection mission is more compelling than ever.

As our nation's securities exchanges mature into global for-profit
competitors, there is even greater need for sound market regulation.

And the common interest of all Americans in a growing economy that produces
jobs, improves our standard of living, and protects the value of our savings
means that all of the SEC's actions must be taken with an eye toward
promoting the capital formation that is necessary to sustain economic
growth.