Learn about the SEC

This week's Discussion is centered on the Real-World Focus presented in CT 17.5.

Public companies have to file their annual reports to the Securities and Exchange Commission. There are rules that companies are required to follow. Domestic issuers must submit annual reports on Form 10-K, quarterly reports on Form 10Q, and current reports on Form 8-K.

Please review the Real-World Focus in your text and answer the following questions.

• How many enforcement actions does the SEC take each year against securities law violators? What are the typical infractions?
• After the Depression, Congress passed the Securities Acts of 1933 and 1934 to improve investor confidence in the markets. What two common sense notions are these laws based on?
• Who was the President of the United States at the time of the creation of the SEC? Who was the first SEC chairperson? Who is the current SEC chairperson?