Flashcards in SEC Deck (14):
What are the main pronouncements published by the SEC?
Financial Reporting Releases (FRR)
Since 2008, the SEC has permitted foreign private issuers to file their financial statements using?
IFRS as issued by the IASB
SEC definition of a foreign private issuer
Any issuer other than a foreign govt EXCEPT an issuer where more than 50% of the O/S voting securities are owned by US resident and the majority of its executives are US citizens/residents
What do Regulations S-X govern?
The form and content of F/S and F/S disclosures
What does Regulations S-K govern?
The form and content of NON financial statement disclosures.
Nonfinancial statement disclosures
Description of the business
Description of stockholder matters
Managements discussion and analysis (MD&A)
Changes in & disagreements w/accountants
Information on directors & mght
Large accelerated filer
Equity held by non affiliates of $700 million or more
Equity held by nonaffiliates that's is between $75 and $700 million
Equity held by nonaffiliates less than $75 million
Filing deadlines for 10-K
Large accelerated - 60 days after YE
Accelerated- 75 days after YE
Non-accelerated - 90 days after YE
Filing deadlines for 10-Q
Large accelerated - 40 days after quarter end
Accelerated- 40 days after quarter end
Non-accelerated - 45 days after quarter end
What's required to be provided upon initial registration of a security?
2 years balance sheets
3 years Income statements
Statements of cash flows
What part of Form 10-K are audited financial information?
Part II, Item 8