SEC (Securities and Exchange  Commission) . . .

is the government agency that administers the 33 Act and other federal securities laws. It reviews public offering documents and promulgates rules and regulations interpreting the federal securities acts and establishing safe harbors from the registration requirements of the 33 Act. See: Going Public, IPOs (Initial Public Offerings), Private Placements, Reg D, Restricted Securities, Safe Harbors, 10b5, 33 Act.