{"id":22861,"date":"2024-04-23T11:20:37","date_gmt":"2024-04-23T15:20:37","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=22861"},"modified":"2026-07-09T10:27:22","modified_gmt":"2026-07-09T14:27:22","slug":"what-is-the-security-exchange-commission","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/what-is-the-security-exchange-commission\/","title":{"rendered":"What is the Securities &amp; Exchange Commission (SEC)?"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/category\/trends-insights\/\" class=\"entry-header__link\">Trends &amp; Insights<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tWhat is the Securities &amp; Exchange Commission (SEC)?\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \">Published <time class=\"entry-date published\" datetime=\"2024-04-23T11:20:37-04:00\">April 23, 2024<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"What is the Securities &amp; Exchange Commission (SEC)?\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-us\/blog\/what-is-the-security-exchange-commission\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n\t<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-us\/blog\/author\/douglasbonderud\/\">\n\t\t\t\t<img decoding=\"async\" alt=\"\" src=\"https:\/\/www.sage.com\/en-ca\/blog\/wp-content\/uploads\/sites\/12\/2019\/11\/Bonderud-Headshot.jpg\" class=\"entry-author__image\" height=\"40\" width=\"40\" fetchpriority=\"high\" \/>\t\t\t\t<span class=\"entry-author__name\">Douglas Bonderud<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>What is the purpose of the Securities &amp; Exchange Commission?<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Securities and Exchange Commission (SEC) was created to ensure fair market activity, enforce financial regulations, and encourage capital formation. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, the SEC played a key role in helping the economy recover after the Great Recession of 2008 prosecuting the financial institutions responsible and returning billions of dollars to the market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While this benefits investors and big organizations, small business owners are often left wondering what role the SEC plays in their day-to-day operations, and how the SEC can help them succeed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this piece, we&#8217;ll explore the history of the SEC, the role it plays in U.S. markets, and what this means for your small business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-here-s-what-we-ll-cover-in-this-article\">Here&#8217;s what we&#8217;ll cover in this article<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"#what\">What are securities? What is an exchange?<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"#sec\">What is the SEC?<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"#role\">What role does the SEC play in US markets?<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"#help\">How does the SEC help small businesses?<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"#final\">Final thoughts on the Securities and Exchange Commission<\/a><\/strong><\/p>\n\n\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Small business survival toolkit<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get your free guide, business plan template, and cash flow forecast template to help you run your business and achieve your goals.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-aee5a8c2-281d-42bb-8da2-eda5b62f63c6\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free toolkit<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t<div class=\"single-cta__downloads\">\n\t\t\t\t\t\n\t\t\t\t\t10,548 readers have downloaded this toolkit\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1327127856-1440x810.jpg\" class=\"single-cta__image\" alt=\"Female hands working on a laptop\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1327127856-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what\">What are securities? What is an exchange?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Before diving into the details of the SEC, it&#8217;s worth breaking down the basics: What exactly is a security, and what is an exchange?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Securities are <a href=\"https:\/\/www.tn.gov\/commerce\/securities\/investors\/what-is-a-security.html\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>broadly defined<\/strong><\/a> as financial instruments that are negotiable and hold some type of value. Common examples of securities include stocks, bonds, and options. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s also important to note that securities are fungible. This means they can be interchanged with assets of the same value and type. Consider currency. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While not a security, cash is fungible \u2014 one U.S. dollar bill can be exchanged with any other and retain the same value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An exchange, meanwhile, is any marketplace where securities can be traded. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Historically, these marketplaces were physical \u2014 stock exchanges are a good example \u2014 but many of these marketplaces are now digital. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC oversees securities and exchanges no matter where they&#8217;re located and no matter what form they take.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"sec\">What is the SEC?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC is a regulatory and administrative agency created by the U.S. government in 1934 under the Securities Exchange Act. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This Act was passed in response to the stock market crash of 1929, which sent the American market into a tailspin and led to significantly reduced investor confidence. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC was given a <a href=\"https:\/\/www.sec.gov\/about\/mission\" rel=\"noopener noreferrer\"><strong>three<\/strong><\/a><a href=\"https:\/\/www.investor.gov\/introduction-investing\/investing-basics\/role-sec\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>-part mission<\/strong><\/a> to help stabilize markets and encourage investor confidence:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-ensure-fair-market-activity\">1. Ensure fair market activity<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">According to the SEC, the U.S. capital markets &#8220;are the deepest, most dynamic, and most liquid in the world. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They also have evolved to become increasingly fast and extraordinarily complex.&#8221; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As of 2023, the SEC is responsible for the oversight of more than $100 trillion in securities trading across both digital and physical markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The primary goals of this oversight are fairness and transparency. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC is responsible for ensuring that both buyers and sellers of securities are forthright and truthful about the value of securities, along with potential risks associated with these securities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-enforce-financial-regulations\">2. Enforce financial regulations<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Part of ensuring fair market activity means enforcing financial rules and regulations. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As evidenced by the full text of the <strong><a href=\"https:\/\/www.ecfr.gov\/current\/title-17\/chapter-II\/part-240\" target=\"_blank\" rel=\"noreferrer noopener\">General Rules and Regulations of the Security Exchange Act<\/a>,<\/strong> much of this enforcement comes down to reporting and review. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Case in point, under section 240.14c-3, security holders must provide the SEC with an annual report. Under section 240.15d-21, meanwhile, companies must provide reports for employee stock purchases, savings, and other similar plans. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The agency then reviews these reports to ensure both buyers and sellers are acting in good faith.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC also recognizes that financial regulations aren&#8217;t static. As technology advances, the agency constantly evaluates current procedures and, where appropriate, modernizes rules to accommodate these changes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Over the last 90 years, Congress has passed additional Acts that help the SEC maintain market stability. These include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Trust Indenture Act (1939)<\/li>\n\n\n\n<li>The Investment Company and Investment Advisers Act (1940)<\/li>\n\n\n\n<li>The Sarbanes-Oxley Act (2002)<\/li>\n\n\n\n<li>The Dodd-Frank Wall Street Reform and Consumer Protection Act (2010)<\/li>\n\n\n\n<li>The Jumpstart Our Business Startups (JOBS) Act (2012)<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC also creates and enforces new rules to help keep pace with changing economic conditions. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To illustrate, in February 2024, the SEC <a href=\"https:\/\/www.sec.gov\/rules\/rulemaking-activity?aId=&amp;search=&amp;rulemaking_status=178631&amp;division_office=All&amp;regulation_year=\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>proposed a rule <\/strong><\/a>to help qualify venture capital funds inflation adjustment. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As part of the approval process, the SEC will ask for public opinion along with conducting internal evaluations and reviews.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-encourage-capital-formation\">3. Encourage capital formation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, the SEC takes an active role in capital formation to help grow the U.S. economy. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In particular, the SEC offers an<strong> <a href=\"https:\/\/www.sec.gov\/education\/capitalraising\/navigator#1\" target=\"_blank\" rel=\"noreferrer noopener\">interactive capital navigator<\/a>. <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Owners can provide details about their business operations and get capital pathway recommendations to help streamline the funding process.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Automate your small business accounting<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Easy to setup. Easy to use.<\/p>\n<p>Save time, improve cash flow, and get paid faster with <span style=\"color: #ffffff\"><a style=\"color: #ffffff\" href=\"https:\/\/www.sage.com\/en-us\/sage-business-cloud\/accounting\/\">Sage Accounting<\/a>.<\/span><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-us\/sage-business-cloud\/accounting\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-4611\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Start your free trial today<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1200\" height=\"640\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2018\/06\/1077496_SBCA_Nuture_Email1_GettingStarted.png\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2018\/06\/1077496_SBCA_Nuture_Email1_GettingStarted.png 1200w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"role\">What role does the SEC play in US markets?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">While the primary mission of the SEC remains the same, the agency has diversified its role to keep pace with changing markets. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the <a href=\"https:\/\/www.sec.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">SEC&#8217;s official website<\/a>, the agency now performs five key functions:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-informing-and-protecting-investors\">1. Informing and protecting investors<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investors are kept informed about market trends with regular investor alerts and bulletins. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, the SEC provides data on all registered investment professionals, including their current registration status and background.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-facilitating-capital-formation\">2. Facilitating capital formation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC facilitates capital formation with resources such as the Capital Raising Hub for small businesses and the FinHub for financial technology firms.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-enforcing-federal-securities-laws\">3. Enforcing federal securities laws<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Securities laws are enforced through both digital and physical enforcement actions, and the SEC provides a list of the latest court actions and administrative proceedings. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Office of the Whistleblower also allows members of the public to report unfair or fraudulent practices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-regulating-securities-markets\">4. Regulating securities markets<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC helps regulate securities markets with both final and proposed rules, and actively seeks out investor feedback on current and future SEC rulemaking.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-providing-data\">5. Providing data<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, the SEC provides market data such as Money Market Fund Statistics, information about active broker-dealers, and reports from registered investment advisers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"help\">How does the SEC help small businesses?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are multiple ways the SEC can help small businesses, including:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-1-capital-formation\">1. Capital formation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In 2019, the agency established the <strong><a href=\"https:\/\/www.sec.gov\/oasb\" target=\"_blank\" rel=\"noreferrer noopener\">Office of the Advocate for Small Business Capital Formation<\/a> (OASBCF)<\/strong>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Office provides resources for small businesses to understand the capital raising process and navigate the SEC rules associated with this process. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Given the increasing volume and variety of potential capital sources, the SEC&#8217;s guidance can help small businesses avoid possible pitfalls and streamline capital generation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The SEC also provides guidance for businesses that choose to raise capital by selling securities. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Specifically, the <a href=\"https:\/\/www.sec.gov\/reportspubs\/investor-publications\/infosmallbusqasbsec\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>SEC&#8217;s small business publications <\/strong><\/a>contain information about how to register a public offering, how to report securities data, and where owners can find more information about the SEC regulations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-2-rules-and-regulations-analysis\">2. Rules and regulations analysis<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The OASBCF also analyzes proposed rules from both the SEC and those from self-regulatory organizations (SROs) to determine their potential impact on small businesses and investors. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Armed with this information, the office can help SMBs effectively navigate these rules to both streamline processes and reduce the risk of non-compliance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This type of assistance is critical for smaller businesses as the pace of regulatory change accelerates and compliance expectations evolve to meet global consumer demand. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Each year the Office releases an <a href=\"https:\/\/www.sec.gov\/about\/division-office\/advocate-small-business-capital-formation\/annual-reports\" target=\"_blank\" rel=\"noreferrer noopener\">Annual Report<\/a> which contains an analysis of current market trends, SEC rulemaking, and OASBCF recommendations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-3-issue-resolution\">3. Issue resolution<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In addition, the OASBCF helps small businesses and investors resolve issues with the SEC and with SRO by recommending specific policy changes to both Congress and the Commission.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, the organization has recommended changes such as <a href=\"https:\/\/www.lexology.com\/library\/detail.aspx?g=b7219ad7-9fd6-4aaa-a78e-8b06ff23ab50\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>scaling security disclosure requirements<\/strong><\/a> to match the size of the business, improving access to educational resources and tools for SMBs, and modifying the definition of an &#8220;accredited investor&#8221; to give owners more options in demonstrating financial sophistication.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"final\">Final thoughts on the Securities and Exchange Commission<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">What is the purpose of the Securities &amp; Exchange Commission? To keep the country&#8217;s evolving financial markets honest, fair, and functional.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While the SEC often focuses on larger enterprises and financial institutions, it also plays a key role in the success of small businesses by offering advice for capital generation and assistance in remaining compliant as SMBs make the move into public securities exchange.<\/p>\n\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner on-scroll-highlight__target\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to our Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get our latest business advice delivered directly to your inbox.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-ab515c6e-7e90-4c2f-a67e-113872516e8b\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"Working from home with tea in hand\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<section class=\"more-topics alignfull has-grey-light-background-color wp-block-sage-post-topics\">\n\t<div class=\"container\">\n\t\t<div class=\"row\">\n\t\t\t<div class=\"col col-12 col-lg-4\">\n\t\t\t\t<h3 class=\"more-topics__title h2\">Browse more topics from this article<\/h3>\n\t\t\t<\/div>\n\t\t\t<div class=\"col col-12 col-lg-8\">\n\t\t\t\t<ul class=\"post-tags__list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"post-tags__item\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/hub\/small-business\/\" class=\"post-tags__link button button--secondary\">\n\t\t\t\t\t\t\t\tSmall business\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t<\/div>\n\t\t<\/div>\n\t<\/div>\n<\/section>\n\n<div class=\"alignfull wp-block-sage-related-posts\">\n\t<section class=\"related-posts card-grid has-dark-background-color\">\n\t<div class=\"container\">\n\t\t\t\t\t<div class=\"row\">\n\t\t\t\t<div class=\"col\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--featured h1\">Explore more wisdom<\/h2>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"row related-posts__featured\">\n\t\t\t\t<div class=\"col card-grid__item\">\n\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-0 post-27542 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-accountants tag-accounting-101 tag-automation tag-small-business business_type-small-business business_type-accountants card-post--is-clickable\"\n>\n\t<div class=\"card-post__media-wrapper\">\n\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1215\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1415809513-1215x810.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1415809513-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1415809513-768x512.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1415809513-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\t<\/div>\n\n\t<div class=\"card-post__content\">\n\t\t\t\t\t<div class=\"card-post__label\">Recommended<\/div>\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-14T11:19:56-04:00\">September 14, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">13 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h3\">\n\t\t\t\t\t\t\t<a\n\t\t\t\t\tclass=\"card-post__title-link\"\n\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/what-is-invoice-processing\/\"\n\t\t\t\t>\n\t\t\t\n\t\t\tInvoice processing: Definition, key steps, and benefits\n\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/p>\n\n\t\t\n\t\t\t\t\t<p class=\"card-post__description\">\n\t\t\t\tLearn the essentials of invoice processing, including the definition, key steps, benefits and invoicing automation software features for managing vendor invoices.\t\t\t<\/p>\n\t\t\n\t\t\t<\/div>\n\n\t<\/article>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\t\t\t<div class=\"row related-posts__non-featured\">\n\t\t\t\t<div class=\"col col-12\">\n\t\t\t\t\t<h2 class=\"related-posts__heading related-posts__heading--more h4\">More on this Topic<\/h2>\n\t\t\t\t<\/div>\n\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-1 post-30337 post type-post status-publish format-standard has-post-thumbnail hentry category-accountants category-money-matters tag-accountants tag-accounting-101 tag-boss-your-business tag-business-intelligence tag-business-strategy tag-cash-flow tag-growing-a-business tag-small-business tag-starting-a-business tag-tax business_type-small-business business_type-accountants\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/what-is-petty-cash\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1022379466-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1022379466-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1022379466-768x432.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1022379466-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-09-02T07:25:41-04:00\">September 2, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">14 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is petty cash?\u00a0A complete guide\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-2 post-30503 post type-post status-publish format-standard has-post-thumbnail hentry category-money-matters tag-accounting-101 tag-cash-flow tag-small-business business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/what-is-bank-reconciliation\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0994-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0994-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0994-768x512.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2024\/10\/BrandShoot-LND_June2024_Financial-Services_0994-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-08-28T08:07:43-04:00\">August 28, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">16 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tBank reconciliation: What it is, how to do it, and examples\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-3 post-30833 post type-post status-publish format-standard has-post-thumbnail hentry category-growth-customers category-strategy-legal-operations tag-accountants tag-accounting-101 tag-boss-your-business tag-business-intelligence tag-cash-flow tag-fixed-assets tag-growing-a-business tag-small-business tag-starting-a-business tag-staying-competitive tag-tax business_type-small-business business_type-growing-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/balance-sheet-template\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-586970671-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-586970671-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-586970671-768x512.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-586970671-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-08-27T05:34:30-04:00\">August 27, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">12 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tBalance sheet template for Excel: Free download\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t<div class=\"col col-6 col-lg-3 card-grid__item\">\n\t\t\t\t\t\t<article\n\t\tclass=\"card-post related-post related-post-4 post-19076 post type-post status-publish format-standard has-post-thumbnail hentry category-accountants category-money-matters category-strategy-legal-operations tag-accountants tag-accounting-101 tag-boss-your-business tag-small-business business_type-small-business\"\n>\n\t\t\t<a\n\t\t\tclass=\"card-post__link\"\n\t\t\thref=\"https:\/\/www.sage.com\/en-us\/blog\/what-is-account-reconciliation\/\"\n\t\t\t\t\t>\n\t\t\t<figure class=\"card-post__media\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"684\" height=\"384\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1313131450-684x384.jpg\" class=\"card-post__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1313131450-684x384.jpg 684w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1313131450-768x512.jpg 768w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1313131450-1215x810.jpg 1215w\" sizes=\"auto, (min-width: 48em) 250px, (min-width: 30em) 100vw, 100vw\" \/>\t\t\t\n\t\t\t\n\t\t\t\t\t<\/figure>\n\n\t\t\n\t\t\t\t\t<div class=\"card-post__meta\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2026-08-26T07:10:26-04:00\">August 26, 2026<\/time><\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"card-post__meta-text\"><span class=\"reading-time\">12 min read<\/span><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\n\t\t<p class=\"card-post__title h5\">\n\t\t\tWhat is account reconciliation? Process and best practices\t\t<\/p>\n\n\t\t\t<\/a>\n\t\n\t\n\t\t\n\t\n\t<\/article>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What is the SEC? What is the purpose of the Securities &#038; Exchange Commission, and how does it help small businesses?<\/p>\n","protected":false},"author":924,"featured_media":20165,"menu_order":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_is_cornerstone":"","_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_opengraph-image":"","_yoast_wpseo_opengraph-image-id":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":"","_yoast_wpseo_twitter-image":"","_yoast_wpseo_twitter-image-id":"","_yoast_wpseo_schema_page_type":"","_yoast_wpseo_schema_article_type":"","_sage_video":false,"_yoast_wpseo_focuskeywords":"[{\"keyword\":\"SEC\",\"score\":57}]","_yoast_wpseo_keywordsynonyms":"[\"\",\"\"]","_yoast_wpseo_primary_category":"49","post_featured_image_hide":false,"sage_hide_published_date":false,"sage_hide_read_time":false,"sage_hide_share_buttons":false,"_pwl_sage_podcast_buzzsprout_src":"","footnotes":""},"categories":[49],"tags":[34],"business_type":[40],"lilypad":[],"context":[],"industry":[],"persona":[96,97,95],"imagine_tag":[230],"coauthors":[617],"class_list":["post-22861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trends-insights","tag-small-business","business_type-small-business"],"sage_meta":{"region":"en-us","author_name":"Douglas Bonderud","featured_image":"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2023\/09\/GettyImages-1316107530.jpg","imagine_tags":{"230":"Small business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice US","distributor_original_site_url":"https:\/\/www.sage.com\/en-us\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/22861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/users\/924"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/comments?post=22861"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/22861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media\/20165"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media?parent=22861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/categories?post=22861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/tags?post=22861"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/business_type?post=22861"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/lilypad?post=22861"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/context?post=22861"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/industry?post=22861"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/persona?post=22861"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/imagine_tag?post=22861"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/coauthors?post=22861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}