The "Securities and Exchange Commission" or "SEC" is an independent regulatory agency with the responsibility for administering federal securities laws. These laws are used to protect investors and to make sure that they have access to disclosure to all of the material information concerning securities. The SEC also regulates firms that are engaged in the sale or purchase of securities.
A "strategic alliance" is an agreement between two are more parties to jointly pursue an agreed upon goal, typically using the complementary strengths of the parties.