The mission of the Pennsylvania Securities Commission is to protect Pennsylvania investors and foster capital formation in Pennsylvania businesses. The Commission administers and enforces The Pennsylvania Securities Act of 1972 (1972 Act) and the Takeover Disclosure Law of 1976. The Commission is divided into three operational divisions: (1) Corporate Finance; (2) Licensing and Compliance; and (3) Enforcement and Litigation. Included on this web site is information concerning the Securities Fraud Awareness Program (SFAP), the Entrepreneur Education Program (EEP), the Commission Guide to Financial Derivatives, and Recent Enforcement Actions.