Case 17-9 The Securities Acts of 1933 and 1934 The Securities Act of 1933 and the Securities Exchange Act of 1934 established guidelines for the disclosures necessary and the protection from fraud when securities are offered to the public for sale. Required: a. Discuss the terms going public and being public as they relate to these pieces of legislation. b. Regulation S-X requires management to discuss and analyze certain financial conditions and results of operations. What are these items?