 The U.S. Securities and Exchange Commission (SEC) oversees the key participants in the securities world.  Concerned with promoting disclosure of important market information, maintaining fair dealing, and protecting against fraud.  Responsibilities include: ◦ Interpret and enforce federal securities laws ◦ Issue new rules and amend existing rules ◦ Oversee inspection of securities firms, brokers, investment advisers and ratings agencies ◦ Oversee private regulatory organizations in securities, accounting, auditing fields ◦ Coordinate U.S. securities regulation with federal, state, and foreign authorities

Reviews documents required to be filed with the Commission Division of Corporate Finance Assists in maintaining fair, orderly and efficient markets. Division of Trading Maintains oversight of America’s $26T investment management industry Division of Investment Management Recommends commencement of investigations of SEC law violations Division of Enforcement Integrates robust economic analysis and data analytics Division of Economic and Risk Analysis

 Securities Act of 1933  Securities Exchange Act of 1934  Trust Indenture Act of 1939  Investment Company Act of 1940  Investment Advisers Act of 1940  Sarbanes-Oxley Act of 2002  Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010  Jumpstart Our Business Startups Act of 2012

ReportPurpose 8KA report of unscheduled material events or corporate changes at a company that could be of importance to the shareholders or SEC 10KComprehensive summary report of a company's performance. Submitted annually to the SEC. 10QA comprehensive report of a company's performance that must be submitted quarterly by all public companies to SEC. In10-Q, firms are required to disclose relevant information regarding their financial position. 18KUse to update the SEC and investors regarding the status of a domestically traded foreign security and its issuer. 20FA form issued by the SEC that must be submitted by all "foreign private issuers" that have listed equity shares on exchanges in the U.S.

 Can be triggered in many ways  Investigation is not the same as prosecution  Investigations involve fact finding and are usually not public  During an investigation, neither the staff nor the Commission makes any determination of wrongdoing  Following investigation, SEC staff present findings to the Commission  Commission can authorize the staff to file a case in federal court or bring an administrative action.

Want to learn more about SEC laws, and best practices to comply with them? ComplianceOnline webinars and seminars are a great training resource. Check out the following links:  How to Comply with U.S. Securities and Exchange Commission Laws How to Comply with U.S. Securities and Exchange Commission Laws  2015 SEC Enforcement Initiatives and Controls to Defend Them 2015 SEC Enforcement Initiatives and Controls to Defend Them  SEC's New Whistleblower Rules: Implications for Your Company's Compliance and Fraud Program SEC's New Whistleblower Rules: Implications for Your Company's Compliance and Fraud Program  New SEC Guidance on Sarbanes-Oxley Section 404 New SEC Guidance on Sarbanes-Oxley Section 404  SEC Whistleblowers and Responding to Whistleblower's Complaints SEC Whistleblowers and Responding to Whistleblower's Complaints