SEC & IASB (Mol. 4)

Question 1

The main pronouncements published by the SEC are:

Answer 1

Financial Reporting Releases (FRR).

Question 2

Function of SEC Division of Corporate Finance

Answer 2

The Division of Corporate Finance oversees the compliance with the securities acts and examines all filings made by publicly held companies.

Question 3

Function of SEC Division of Enforcement.

Answer 3

The Division of Enforcement completes the investigation and takes appropriate actions when there is a violation of a securities law (except the Public Utility Holding Company Act). This division makes recommendations to the Justice Department concerning any punishments or potential criminal prosecution.

Question 4

Function of SEC Division of Trading and Markets.

Answer 4

The Division of Trading and Markets oversees the secondary markets, exchanges, brokers, and dealers.

Question 5

Function of SEC Division of investment management.

Answer 5

The Division of Investment Management oversees the investment advisers and investment companies under the Investment Company Act of 1940 and the Investment Advisers Act of 1940.