SEC Reporting

SOLUTIONS

Chapter 1

Knowledge check solutions

1.  
   1. Correct. The Securities Act of 1933 requires an issuer offering securities to the public in interstate commerce or through the mail, unless specifically exempted, to file a registration statement with the SEC containing financial and other information about the issuer and the offering.
   2. Incorrect. The Securities Exchange Act of 1934 requires companies to file annual and other periodic reports to keep current the information contained in the original registration filing.
   3. Incorrect. The Securities Exchange Act of 1934 is primarily concerned with the trading and ongoing reporting related to registered securities.
   4. Incorrect. The purpose of the Securities Act of 1933 is not to limit the liability of entities offering securities for sale to the public, but instead requires an issuer offering securities to the public in interstate commerce or through the mail, unless specifically exempted, to file a registration statement with the SEC containing financial and other information about the issuer and the offering.
2.  
   1. Correct. The Securities Act prohibits fraudulent practices in the sale of securities and requires the dissemination of financial and other information to prospective investors.
   2. Incorrect. Registration under the 1934 Act is required for companies that become subject to the reporting requirements of the SEC other than by an initial sale of securities to the public.
   3. Incorrect. The Private Securities Litigation Reform Act governs ...