FAR - U.S. Securities & Exchange Commission (SEC) - SEC Reporting Requirements Flashcards
What does the Securities Act of 1934 do?
Regulates the trading of securities after they are issued and requires periodic reporting.
What information does Management Discussion & Analysis (MD&A) cover?
The firm’s financial condition, changes in financial condition, results of operations, liquidity, capital resources and operations, and indications in trends, significant events, and uncertainties.
What does registration with the SEC require?
Extensive disclosures about the company, management, and the intended use of the proceeds from the issue.
What information does the 8-K provide?
Significant events affecting the company.
Within how many days after the fiscal year end of a large accelerated files does a 10-K need to be filed?
Sixty days.
How many years of selected financial data are required by the SEC?
Five years are required.
Does the Sarbanes-Oxley Act allow auditors to complete non-audit services for clients?
No.
What law prohibits the bribing of foreign officials?
The Foreign Corrupt Practices Act of 1977.
How many years of balance sheet data are required by the SEC?
Two years are required.
What are the steps in the offering process?
Issuer, underwriter, deal, public
Within how many days after the end of the quarter does a company need to file the 10-Q?
Forty days for large accelerated filers and accelerated filers; forty-five days for non-accelerated filers.
What information does MD&A provide?
A discussion of important aspects of the firm from the viewpoint of management.
Where are the SEC formal rules found?
The Code of Federal Regulations.
How many years of cash flow data are required by the SEC?
Three years are required.
How many years of income statement data are required by the SEC?
Three years are required.
