"Corporate officers hold positions of trust in our markets and have important responsibilities to shareholders," said Steven Peikin, Co-Director of the SEC'sEnforcement Division. "An officer's celebrity status or reputation as a technological innovator does not give license to take those responsibilities lightly.""Taking care to provide truthful and accurate information is among a CEO's most critical obligations," added Stephanie Avakian, Co-Director of the SEC's Enforcement Division. "That standard applies with equal force when the communications are made via social media or another non-traditional form."Source: SEC Press Release, "Elon Musk Charged With Securities Fraud for Misleading Tweets," September 27, 2018After reading the scenario, please respond to A, B, and C below.1. Describe the role of the Securities and Exchange Commission (SEC) in the context of the scenario.2. Explain how Congress can affect how the SEC acts in the role described in part A.3. Suppose there is a vacant seat on the Securities and Exchange Commission and the issue in the scenario is still pending. In the context of the scenario, explain how the process of selecting a new commissioner illustrates oversight and accountability in the bureaucracy.