SEC

(noun)

The U.S. Securities and Exchange Commission (frequently abbreviated SEC) is a federal agency[2] which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States.

Related Terms

  • private placements

Examples of SEC in the following topics:

  • The Regulators

    • The Securities and Exchange Commission (SEC), which was created in 1934, is the principal regulator of securities markets in the United States.
    • The SEC also oversees trading in stocks and administers rules designed to prevent price manipulation; to that end, brokers and dealers in the over-the-counter market and the stock exchanges must register with the SEC.
    • The SEC has five commissioners who are appointed by the president.
    • But in general, it is considered a more gentle regulator than the SEC.
    • From time to time, an especially aggressive SEC chairman asserts a vigorous role for that commission in regulating futures business.
  • Standard-Setting Groups: SEC, AICPA, and FASB

    • The SEC enforces and regulates security laws, the AICPA dictates the professional conduct of accountants, and the FASB develops GAAP.
    • Under the direction of the SEC the Committee on Accounting Procedure was created by the AICPA in 1939.
    • The SEC was established by United States President Franklin D.
    • Currently, the SEC is responsible for administering seven major laws that govern the securities industry:
    • To achieve its mandate, the SEC enforces the statutory requirement that public companies submit periodic reports.
  • Trigonometric Substitution

    • If the integrand contains $x^2-a^2$, let $x = a \sec(\theta)$ and use the identity:
    • $\begin{aligned}\int\frac{dx}{{a^2+x^2}} &= \int\frac{a\sec^2(\theta)\,d\theta}{{a^2+a^2\tan^2(\theta)}} \\ &= \int\frac{a\sec^2(\theta)\,d\theta}{{a^2(1+\tan^2(\theta))}} \\ &= \int \frac{a\sec^2(\theta)\,d\theta}{{a^2\sec^2(\theta)}} \\ &= \int \frac{d\theta}{a} \\ &= \frac{\theta}{a}+C \\ &= \frac{1}{a} \arctan \left(\frac{x}{a}\right)+C\end{aligned}$
  • Disadvantages of LIFO

    • LIFO is facing pressures from both the International Reporting Standards Board in cooperation with the SEC and the U.S.
    • On November 15, 2007, the Securities and Exchange Commission (SEC) exempted foreign firms from including reconciliation from International Financial Reporting Standards (IFRS) to U.S.
    • GAAP and financial statement requirements (SEC, 2007).
    • On June, 18, 2008, the SEC issued a press release stating that the world’s securities regulators are uniting to increase their oversight of international accounting standards.
  • Secant and the Trigonometric Cofunctions

    • The secant function is the reciprocal of the cosine function, and is abbreviated as $\sec$.
    • $\displaystyle{ \begin{aligned} \sec x &= \frac{1}{\cos x} \\ \sec x &= \frac{\text{hypotenuse}}{\text{adjacent}} \end{aligned} }$
    • Applying $\displaystyle{\sec x = \frac{1}{\cos x}}$, we can rewrite this as:
    • Using this, the value of $\displaystyle{ \sec{\left(\frac{\pi}{3}\right)}}$ can be found:
    • Use the unit circle to calculate $\sec t$, $\cot t$, and $\csc t$ at the point $\displaystyle{\left(-\frac{\sqrt{3}}{2}, \frac{1}{2}\right)}$.
  • Pythagorean Identities

    • Simplify the following expression: $5\sin^2 t + \sec^2 t + 5\cos^2 t - 1 - \tan^2 t$
    • $5 \sin^2 t + 5 \cos^2 t+ \sec^2 t - 1 - \tan^2 t$
    • $5(\sin^2 t + \cos^2 t)+ \sec^2 t - 1 - \tan^2 t$
    • Recall that one of the Pythagorean identities states $1 + \tan^2 t = \sec^2 t$.
    • This can be rearranged to $\sec^2 x - 1 = \tan^2 x$.
  • Securities Act of 1933

    • Unless they qualify for an exemption, securities offered or sold to the public in the U.S. must be registered by filing a registration statement with the SEC.
    • The SEC prescribes the relevant forms on which an issuer's securities must be registered.
    • Once this statement is registered with and approved by the SEC, its data and forecasts are placed in a prospectus for potential investors.
    • Rule 144, promulgated by the SEC under the 1933 Act, permits, under limited circumstances, the sale of restricted and controlled securities without registration.
    • If certain requirements are met, Form 144 must be filed with the SEC.
  • Adjusting for LIFO Reserve

    • The SEC requires that all registered companies that use LIFO report their LIFO reserves for the start and end of the year.
  • Financial Statements Across Periods

    • The reporting of these financial statements is regulated by the federal agency, the Securities and Exchange Commission (SEC).
    • According to SEC regulations, companies have to file an extensive report (called the 10K) on what happened during the year.
    • These reports can be accessed through the SEC's website, www.sec.gov, the company's website, or various financial websites, such as finance.yahoo.com.
  • The Disclosure Process

    • Securities and Exchange Commission (SEC) that gives a comprehensive summary of a company's performance.
    • Historically, a Form 10-K had to be filed with the SEC within 90 days after the end of the company's fiscal year.
    • These shortened deadlines were to be phased in over a three-year period; however, in 2004 the SEC postponed the three-year phase-in by one year.
    • In December 2005, the SEC created a third category of "large accelerated filers," which are accelerated filers with a public float of over $700 million.
    • The SEC requires businesses to file an annual report known as a Form 10-K in order to disclose relevant financial information.
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