Understanding Key SEC Regulations
The table below provides a comprehensive comparison of the major SEC securities regulations -
Securities Act of 1933
Securities Exchange Act of 1934
SOX 404
Regulation FD
Regulation S-X
Regulation S-K
These regulations work together as an integrated system, with most public companies needing to comply with multiple regulations simultaneously.
The 1933 and 1934 Acts form the backbone of US securities regulation, with the 1933 Act focusing on new offerings and the 1934 Act governing ongoing trading and disclosure.
SOX 404 and Regulation FD address specific issues that emerged over time - internal controls and selective disclosure, respectively.
Regulations S-K and S-X work together to standardize what companies must disclose (S-K) and how financial information must be presented (S-X).
DISCLAIMER: The information provided is intended to educate the readers and a more definite answer should be based on a consultation with a lawyer or CPA. It should not be relied upon as legal advice because the information might be incomplete and answers could change depending upon circumstances and if all facts were known.
