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Notice Of Adoption Of Amendment To Regulation S-X Deferring Effective Date Of Rule 5-02-1 As It Relates To Disclosure Of Compensating Balances, United States. Securities And Exchange Commission Jan 1973

Notice Of Adoption Of Amendment To Regulation S-X Deferring Effective Date Of Rule 5-02-1 As It Relates To Disclosure Of Compensating Balances, United States. Securities And Exchange Commission

Federal Publications

Amendments to Regulation S-X adopted on June 23, 1972, effective for periods ending on or after December 31, 1972, included a revised Rule 5-02-1, Cash and cash items, in which a specific requirement for separate disclosure of compensating balances maintained was added. Since June, the Commission has received many inquiries as to the form of disclosure contemplated by this rule. Some preliminary guidelines were drawn up and exposed in a limited way in November to interested groups. The comments received from those groups indicated a need for additional time both to improve the proposed guidelines through further comments on formal …

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Notice Of Adoption Of Amendments To Regulation S-X, United States. Securities And Exchange Commission Jan 1972

Notice Of Adoption Of Amendments To Regulation S-X, United States. Securities And Exchange Commission

Federal Publications

Proposals to amend Articles 1, 2, 3, 4, 5, 9, 11 and Rules 12-01 to 12-16 (exclusive of 12-06A), and to omit Rules 12-17 and 12-32 of Regulation S-X were issued for public comment on August 20, 1971 in Securities Act Release No. 5177 (Securities Exchange Act Release No. 9264, Public Utility Holding Company Act Release No. 17215 and Investment Company Act Release No. 6645).

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Independence Of Accountants: Guidelines And Examples Of Situations Involving The Independence Of Accountants, United States. Securities And Exchange Commission Jan 1972

Independence Of Accountants: Guidelines And Examples Of Situations Involving The Independence Of Accountants, United States. Securities And Exchange Commission

Federal Publications

The Securities and Exchange Commission today announced the publication of an additional release in its Accounting Series on the subject of the independence of the certifying accountant. The primary purpose of this release is to set forth presently existing guidelines employed by the Commission in resolving the various independence questions that come before it. This release, therefore, is not intended to supersede Accounting Series Release No. 47 issued on January 25, 1944, or No. 81 issued on December 11, 1958, but should be read as complementing and implementing further the policy developed in those prior releases. However, to the extent …

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In The Matter Of Martin L. Sanchez, 300 North Center Street, Casper, Wyoming: Rules Of Practice - Rule 2(E): Notice That Initial Decision Has Become Final, United States. Securities And Exchange Commission Jan 1972

In The Matter Of Martin L. Sanchez, 300 North Center Street, Casper, Wyoming: Rules Of Practice - Rule 2(E): Notice That Initial Decision Has Become Final, United States. Securities And Exchange Commission

Federal Publications

Accordingly, notice is hereby given, pursuant to Rule 17(f) of the Commission's Rules of Practice, that the hearing examiner's initial decision with respect to Martin L. Sanchez has become the final decision of the Commission. The examiner's order disqualifying Sanchez from appearing or practicing before the Commission is hereby declared effective.

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In The Matter Of Barry L. Kessler, 267 South Drexell, Columbus, Ohio, Rules Of Practice - Rule 2(E): Order Accepting Resignation From Commission Practice, United States. Securities And Exchange Commission Jan 1972

In The Matter Of Barry L. Kessler, 267 South Drexell, Columbus, Ohio, Rules Of Practice - Rule 2(E): Order Accepting Resignation From Commission Practice, United States. Securities And Exchange Commission

Federal Publications

On April 6, 1912, the Commission instituted an injunctive action in the United States District Court for the Northeastern District of Ohio alleging, among other things, that Barry L. Kessler, an accountant, violated antifraud provisions of the Securities Exchange Act of 1934 by recommending to his clients and others the purchase of orange grove investment contracts of American Agronomics Corporation ("Agronomics") without disclosing that he was paid a substantial fee for each sale consummated. Without admitting or denying the allegations in the Commission's complaint, Kessler consented to entry of a permanent injunction in that action enjoining him from fraudulent conduct …

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Pooling-Of-Interests Accounting, United States. Securities And Exchange Commission Jan 1972

Pooling-Of-Interests Accounting, United States. Securities And Exchange Commission

Federal Publications

In recent months, the Commission has noted an increasing number of business combinations which appear to meet the individual requirements for pooling-of-interests accounting set forth in Accounting Principles Board Opinion No. 16 but which do not conform with the overriding thrust of that Opinion which requires that a combination represent a sharing of rights and risks among constituent stockholder groups if it is to be a pooling of interests. Paragraphs 28, 45 and 47 of that Opinion clearly provide that such a sharing of risk is an essential element in poolings, and the specific requirements set forth in paragraphs 46, …

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Disclosure Of Contingent Liabilities Arising Under The Economic Stabilization Act Of 1970, United States. Securities And Exchange Commission Jan 1972

Disclosure Of Contingent Liabilities Arising Under The Economic Stabilization Act Of 1970, United States. Securities And Exchange Commission

Federal Publications

A few recent filings with the Commission have indicated that potential liabilities for the registrant exist under Economic Stabilization Regulations (6 CFR). This disclosure has generally not been included in the notes to the financial statements but in the narrative section of the filings, and in most cases little or no quantitative data in regard to the amounts of the contingencies are disclosed.

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In The Matter Of Robert Trivison, 8148 Forest Court, North Royalton, Ohio, Rules Of Practice - Rule 2(E): Order Accepting Resignation From Commission Practice, United States. Securities And Exchange Commission Jan 1972

In The Matter Of Robert Trivison, 8148 Forest Court, North Royalton, Ohio, Rules Of Practice - Rule 2(E): Order Accepting Resignation From Commission Practice, United States. Securities And Exchange Commission

Federal Publications

Robert Trivison, an accountant, has submitted an offer to resign from practice before the Commission. Having been advised by the Commission that it was contemplating the institution of administrative proceedings pursuant to Rule 2(e) of its Rules of Practice, based on the allegations in a pending injunctive action, to determine whether he should be temporarily or permanently denied the privilege of appearing or practicing before it, Trivison agreed to resign on condition that no administrative action be brought against him, and that, if his offer of resignation were accepted, he would, without admitting or denying the allegations in the injunctive …

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Standards For Audit Of Governmental Organizations, Programs, Activities And Functions; Yellow Book. 1972 Edition, United States. General Accounting Office Jan 1972

Standards For Audit Of Governmental Organizations, Programs, Activities And Functions; Yellow Book. 1972 Edition, United States. General Accounting Office

Federal Publications

No abstract provided.

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Standing Audit Committees Composed Of Outside Directors, United States. Securities And Exchange Commission Jan 1972

Standing Audit Committees Composed Of Outside Directors, United States. Securities And Exchange Commission

Federal Publications

As far back as 1917 it was urged that auditors in the United States should be appointed or selected by the stockholders in accordance with the practice in Great Britain and in Canada, and that state laws or company by-laws should contain a provision for an independent report on the affairs of the company by an auditor appointed by the stockholders.

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Notice Of Adoption Of Revision Of Article 9 Of Regulation S-X, United States. Securities And Exchange Commission Jan 1972

Notice Of Adoption Of Revision Of Article 9 Of Regulation S-X, United States. Securities And Exchange Commission

Federal Publications

The Commission today adopted a general revision of Article 9 of Regulation S-X pertaining to the form and content of financial statements of bank holding companies and banks. The revision was issued for public comment on August 20, 1971 as part of a general revision of Regulation S-X but, because a number of unexpected problems arose, its adoption was deferred when other portions of the proposed revision were adopted on June 23, 1972.

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Pro Rata Stock Distributions To Shareholders, United States. Securities And Exchange Commission Jan 1972

Pro Rata Stock Distributions To Shareholders, United States. Securities And Exchange Commission

Federal Publications

Several instances have come to the attention of the Commission in which registrants have made pro rata stock distributions which were misleading. These situations arise particularly when a registrant makes distributions at a time when its retained earnings or its current earnings are substantially less than the fair value of the shares distributed. Under present generally accepted accounting rules, if the ratio of distribution is less than 25 percent of shares of the same class outstanding, the fair value of the shares issued must be transferred from retained earnings to other capital accounts. Failure to make this transfer in connection …

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Computation Of Ratio Of Earnings To Fixed Charges, United States. Securities And Exchange Commission Jan 1971

Computation Of Ratio Of Earnings To Fixed Charges, United States. Securities And Exchange Commission

Federal Publications

Certain registration forms under the Securities Act of 1933 require, where debt securities are to be registered, a statement of the ratio of earnings to fixed charges. Certain registration and report forms under the Securities Exchange Act of 1934 permit the showing of such a ratio. There have recently been filed with the Commission a number of registration statements wherein the registrants, in computing the ratio of earnings to fixed charges, have deducted from fixed charges amounts comprising (1) interest income or investment income earned on funds in excess of the requirements for working capital and (2) gains on retirement …

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Notice Of Revision Of Annual Report Form N-1r For Management Investment Companies And Withdrawal Of Proposal To Amend Rule 30a-1, United States. Securities And Exchange Commission Jan 1971

Notice Of Revision Of Annual Report Form N-1r For Management Investment Companies And Withdrawal Of Proposal To Amend Rule 30a-1, United States. Securities And Exchange Commission

Federal Publications

Notice is hereby given that the Securities and Exchange Commission has adopted certain revisions of Form N-1R for annual reports of most registered management investment companies and has withdrawn its proposal to amend Rule 30a-1. Notices of the proposed revisions were published in Investment Company Act Release Nos. 6284 on December 16, 1970, and 6349 on February 16, 1971, in which interested persons were invited to submit written statements of their views and comments.

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Coverage Of Fixed Charges, United States. Securities And Exchange Commission Jan 1971

Coverage Of Fixed Charges, United States. Securities And Exchange Commission

Federal Publications

Certain registration forms under the Securities Act of 1933 require, where debt securities are to be registered, a statement of the ratio of earnings to fixed charges. Certain registration and report forms under the Securities Exchange Act of 1934 permit the showing of such ratio. Registration statements have been filed recently with the Commission wherein the ratio of earnings to fixed charges was computed on the basis of the revenues and expenses set forth in financial statements which did not reflect the revenues and expenses of a substantial portion of the enterprise carried on by the registrant. For example, some …

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Regulation S-X: Form And Content Of Financial Statements As In Effect October 14, 1970, United States. Securities And Exchange Commission Jan 1970

Regulation S-X: Form And Content Of Financial Statements As In Effect October 14, 1970, United States. Securities And Exchange Commission

Federal Publications

No abstract provided.

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Adoption Of Article 11a Of Regulation S-X, United States. Securities And Exchange Commission Jan 1970

Adoption Of Article 11a Of Regulation S-X, United States. Securities And Exchange Commission

Federal Publications

The Securities and Exchange Commission today adopted an amendment to Regulation S-X consisting of a new section designated Article 11A to govern the content of statements of source and application of funds, for which a requirement has recently been adopted in certain registration and reporting forms under the Securities Act of 1933 and the Securities Exchange Act of 1934.

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Disclosure Concerning Restricted Securities, United States. Securities And Exchange Commission Jan 1970

Disclosure Concerning Restricted Securities, United States. Securities And Exchange Commission

Federal Publications

On October 21, 1969, the Commission issued a statement (Investment Company Act Release No. 5847; Accounting Series Release No. 113) which discusses the problems created by purchasing and holding restricted securities by such companies. One section of this release deals with The Problem of Disclosure and enumerates specific information regarding these securities which should be included in the financial statements.

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Certification Of Financial Statements, United States. Securities And Exchange Commission Jan 1970

Certification Of Financial Statements, United States. Securities And Exchange Commission

Federal Publications

There have recently been filed with the Commission a number of registration statements under the Securities Act of 1933 which include accountants' opinions that are qualified as to matters of such significance to the registrant that there is serious question as to whether the certificate meets the requirements of Rule 2-02 of Regulation S-X.

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Starting And Managing A Small Retail Music Store; Starting And Managing Series Volume 20, Ray S, Erlandson Jan 1970

Starting And Managing A Small Retail Music Store; Starting And Managing Series Volume 20, Ray S, Erlandson

Federal Publications

No abstract provided.

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Restricted Securities, United States. Securities And Exchange Commission Jan 1969

Restricted Securities, United States. Securities And Exchange Commission

Federal Publications

The Commission is aware that many investment companies have been acquiring substantial quantities of securities that cannot be offered to the public for sale without first being registered under the Securities Act of 1933 ("restricted securities"). For the year 1968, annual reports filed by registered investment companies indicate that open-end and closed-end companies together held in excess of $4.2 billion of restricted equity securities. Open-end companies--excluding exchange funds--accounted for about $3.2 billion of these restricted securities which represented 4.4 per cent of their total net assets. The acquisition by investment companies of such securities raises certain problems under the securities …

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Adoption Of Amendments To Regulation S-X And To Forms 10 And 10-K To Revise The Exemption From Certification Of Financial Statements Of Banks Filed Under The Securities Act Of 1933 And The Securities Exchange Act Of 1934, United States. Securities And Exchange Commission Jan 1969

Adoption Of Amendments To Regulation S-X And To Forms 10 And 10-K To Revise The Exemption From Certification Of Financial Statements Of Banks Filed Under The Securities Act Of 1933 And The Securities Exchange Act Of 1934, United States. Securities And Exchange Commission

Federal Publications

The Securities and Exchange Commission today adopted amendments of Article 9 of Regulation S-X and Instructions 13 and 7 of the Instructions as to Financial Statements of Forms 10 and 10-K, respectively, which revise the exemption from certification of financial statements of banks filed under the Securities Act of 1933 and the Securities Exchange Act of 1934.

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Amendment To Rule 1-01 Of Article 1 Of Regulation S-X, United States. Securities And Exchange Commission Jan 1968

Amendment To Rule 1-01 Of Article 1 Of Regulation S-X, United States. Securities And Exchange Commission

Federal Publications

This amendment to Rule 1-01 of Article 1 brings this rule up to date and makes unnecessary amendments to this rule each time an existing form is rescinded or a new form is added.

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In The Matter Of Meyer Weiner, A Certified Public Accountant: Order, United States. Securities And Exchange Commission Jan 1968

In The Matter Of Meyer Weiner, A Certified Public Accountant: Order, United States. Securities And Exchange Commission

Federal Publications

On the basis of information obtained in a nonpublic investigative proceeding, the staff has charged (a) that Meyer Weiner of Reading, Pennsylvania, acting in his capacity as a certified public accountant, willfully aided and abetted in violations of Section 17(a) of the Securities Exchange Act of 1934 and Rule 17 CFR 240.17a-5 thereunder in that (1) he certified without qualification or exception a materially false and misleading statement of financial condition filed with the Commission by William P. Mackay, a broker-dealer doing business as Mackay and Company (Securities Exchange Act Release No. 7343, June 15, 1964), and (2) when he …

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Uniform System Of Accounts Prescribed For Natural Gas Companies (Class A And B, C, And D) Subject To The Provisions Of The Natural Gas Act In Effect On September 1, 1968, United States. Federal Power Commission Jan 1968

Uniform System Of Accounts Prescribed For Natural Gas Companies (Class A And B, C, And D) Subject To The Provisions Of The Natural Gas Act In Effect On September 1, 1968, United States. Federal Power Commission

Federal Publications

No abstract provided.

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Regulation S-X: Form And Content Of Financial Statements As In Effect September 1, 1968, United States. Securities And Exchange Commission Jan 1968

Regulation S-X: Form And Content Of Financial Statements As In Effect September 1, 1968, United States. Securities And Exchange Commission

Federal Publications

No abstract provided.

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Independence Of Accountants Examining A Non-Material Segment Of An International Business, United States. Securities And Exchange Commission Jan 1968

Independence Of Accountants Examining A Non-Material Segment Of An International Business, United States. Securities And Exchange Commission

Federal Publications

The Securities and Exchange Commission today announced the publication of a release in its Accounting Series dealing with Independence of accountants. The release is concerned with a matter which tends to arise more frequently as United States corporations doing business on an international scale increase in number and their respective operations are conducted in an ever-growing number of geographical areas.

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In The Matter Of Edwin Aronowitz, Silver Spring, Md.: Order, United States. Securities And Exchange Commission Jan 1967

In The Matter Of Edwin Aronowitz, Silver Spring, Md.: Order, United States. Securities And Exchange Commission

Federal Publications

On the basis of information furnished to the Commission, it appears to the Commission that there may have been a lack of adherence to generally accepted auditing standards and the Commission's minimum audit requirements by Edwin Aronowitz, a public accountant, in connection with the preparation and submission to the Commission of certain financial statements required by Rule 240.17a-5.

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Net Capital Requirements For Brokers And Dealers -- Interpretation And Guide, United States. Securities And Exchange Commission Jan 1967

Net Capital Requirements For Brokers And Dealers -- Interpretation And Guide, United States. Securities And Exchange Commission

Federal Publications

The Securities and Exchange Commission today released the following staff interpretation of, and guide to computations under, its "net capital" Rule 15c3-l under the Securities Exchange Act of 1934 (the "Act"). 1/ This material, which was prepared jointly by the Commission's Division of Trading and Markets (the "Division") and Office of Chief Accountant, is intended to assist brokers and dealers in complying with Rule 15e3-1. This release is divided into two parts. Part I explains the operation of Rule 15c3-l, including the exemptions therefrom, and discusses the application of the rule with respect to questions frequently presented to the Division …

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In The Matter Of Nicolas J. Raftery, A Certified Publc Accountant: Order, United States. Securities And Exchange Commission Jan 1967

In The Matter Of Nicolas J. Raftery, A Certified Publc Accountant: Order, United States. Securities And Exchange Commission

Federal Publications

On the basis of information furnished to the Commission in a nonpublic investigative proceeding, the Commission has reason to believe that there may have been a lack of adherence to generally accepted auditing standards and its minimum audit requirements by Nicolas J. Raftery, a certified public accountant, in connection with the preparation and submission to the Commission of certain financial statements in accordance with the requirements of Rule 240.17a-5.

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