SEC Mandates and Programs

Author: Lynn Fountain

As outlined in our introductory course, SEC Structure and Responsibility, there are many compliance rules and regulations that publicly traded companies must follow. In addition, the SEC has far reaching powers in the oversight of the various legislations and can assess penalties to companies (or accounting firms), who do not adequately comply with those mandates.

While most violations of securities laws are enforced by the SEC and the various securities regulatory organizations it monitors, state securities regulators can also enforce statewide securities blue sky laws. The SEC also works with federal and state law enforcement agencies to carry out actions against actors alleged to be in violation of the securities laws.

The SEC has a three part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. Each mission step has critical components of SEC programs and enforcement actions. This course will delve into the SEC’s mission statement and its applicable powers of enforcement.

This session will delve into the various component areas of the SEC Mission statement and discuss elements relevant to each statement including regulation and rulemaking, enforcement actions, investor alerts and bulletins, filing requirements and financial reporting. We will provide you with an overview of the SECs requirements in these areas from accountant’s perspective.

Publication Date: April 2021

Designed For
Finance professionals, Accounting professionals, Auditing Professionals, Compliance Professionals, and Board and Executive management of public companies or companies considering an IPO.

Topics Covered

• Goals and Strategic Plan
• Goal — Protect Investors
• Goal — Maintain Orderly and Efficient Markets
• Goal — Facilitate Capital Formation
• Filings
• XBRL Overview
• Enforcement Overview
• Rulemaking Overview
• Whistleblower Rules

Learning Objectives

• Recognize the critical components involved in each step of the SEC mission statement and how those elements are executed including: Protecting investors, Maintaining fair, orderly and efficient markets, and Facilitating capital formation
• Recognize the SEC rule making and enforcement process
• Identify Edgar, XBRL and iXBRL
• Recognize the true purpose of the SEC's Strategic Plan
• Recognize how different agencies function
• Describe an Initial Public Offering (IPO)
• Identify which Act instituted the Whistleblower Program
• Recognize the purpose of the PAUSE program

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None