Reporting requirements (11 - 20 of 36 items)
Lost Security Holders: SEC Should Use Data to Evaluate Its 1997 Rule
GAO-01-978: Published: Sep 28, 2001. Publicly Released: Sep 28, 2001.
One in eight Americans are entitled to unclaimed and abandoned assets, according to the National Association of Unclaimed Property Administrators. These unclaimed and abandoned assets include savings and checking accounts, securities, paychecks, insurance settlements, and utility and rental deposits. Most of this money is unclaimed because the owner moved and simply forgot about the account, chang...
Securities and Exchange Commission: Reviews of Accounting Matters Related to Public Filings
GAO-01-718: Published: Jun 14, 2001. Publicly Released: Jun 14, 2001.
This report reviews the Securities and Exchange Commission's (SEC) resolution of accounting issues submitted by companies that have or are contemplating publicly traded securities. Companies are required by law to register their securities with SEC by filing a registration statement. This statement must contain financial and other information on the securities and the issuer. SEC's Office of the C...
Financial Services Regulators: Better Information Sharing Could Reduce Fraud
GAO-01-478T: Published: Mar 6, 2001. Publicly Released: Mar 6, 2001.
The sharing of regulatory and criminal history data among financial services regulators can reduce fraudulent activities. GAO recently reported on several instances in which unscrupulous brokers moved from one financial industry to another. This testimony focuses on (1) systems used by financial regulators for tracking regulatory history data, (2) regulatory history data needed to help prevent ro...
Securities Exchange Act: Review of Reporting Under Section 10A
AIMD-00-54R: Published: Feb 4, 2000. Publicly Released: Feb 4, 2000.
Pursuant to a congressional request, GAO reviewed the reporting procedures under Section 10A of the Securities Exchange Act of 1934.GAO noted that: (1) according to the Securities and Exchange Commission's (SEC) records, 6 Section 10A reports have been filed through December 14, 1999; (2) the Section 10A reporting requirements first became effective for fiscal years beginning on or after January 1...
Long-Term Capital Management: Regulators Need to Focus Greater Attention on Systemic Risk
GGD-00-3: Published: Oct 29, 1999. Publicly Released: Nov 19, 1999.
Pursuant to a congressional request, GAO provided information on Long Term Capital Management (LTCM) funds, focusing on: (1) how LTCM's positions became large and leveraged enough to be deemed a potential systemic threat; (2) what federal regulators knew about LTCM and when they found out about its problems; (3) what the extent of coordination among regulators was; and (4) whether regulatory autho...
Securities and Exchange Commission: Amendment to Rule Filing Requirements for Self-Regulatory Organizations Regarding New Derivative Securities Products
OGC-99-29: Published: Jan 5, 1999. Publicly Released: Jan 5, 1999.
Pursuant to a legislative requirement, GAO reviewed the Securities and Exchange Commission's (SEC) new rule on filing requirements for self-regulatory organizations (SRO) regarding derivative securities products. GAO noted that: (1) the new rule would permit a SRO to list and trade new derivative securities products pursuant to existing self-regulatory organization trading rules; and (2) SEC compl...
Financial Derivatives: Actions Taken or Proposed Since May 1994
GGD/AIMD-97-8: Published: Nov 1, 1996. Publicly Released: Nov 1, 1996.
GAO conducted a follow-up review of the regulation of financial derivative products, focusing on actions taken or proposed since May 1994 to: (1) strengthen corporate governance and internal controls for derivatives dealers and major end-users; (2) improve regulation of major U.S. derivatives dealers; (3) provide federal oversight of major derivatives dealers that are unregulated affiliates of sec...
Futures Markets: Heightened Audit Trail Standards Not Met But Progress Continues
GGD-96-177: Published: Sep 25, 1996. Publicly Released: Sep 25, 1996.
Pursuant to a congressional request, GAO provided information on the Commodity Futures Trading Commission's (CFTC) actions to enforce Futures Trading Practices Act (FTPA) audit trail provisions.GAO found that: (1) 7 U.S. futures exchanges are in compliance with FTPA 1-minute trade timing and sequencing standards; (2) CFTC is unable to determine the status of four other exchanges until it reviews t...
The Accounting Profession: Appendixes to Major Issues: Progress and Concerns
AIMD-96-98A: Published: Sep 24, 1996. Publicly Released: Sep 24, 1996.
Pursuant to a congressional request, GAO reviewed recommendations, made by major study groups over the past two decades, to the accounting profession, focusing on: (1) actions the profession has taken between 1972 and 1995 to improve accounting and auditing standards and the performance of independent audits under federal securities laws; and (2) unresolved issues and their impact on the performan...
Securities Markets: Actions Needed to Better Protect Investors Against Unscrupulous Brokers
GGD-94-208: Published: Sep 14, 1994. Publicly Released: Sep 14, 1994.
Pursuant to a congressional request, GAO reviewed the Securities and Exchange Commission's (SEC) and several self-regulatory organizations' (SRO) oversight of unscrupulous brokers, focusing on: (1) the extent of unscrupulous broker activity in the securities industry; (2) regulatory and industry efforts to discipline unscrupulous brokers; and (3) the industry's capability to identify unscrupulous...