SIE practice questionhardSecurities Exchange Act of 1934 - Reporting Companies
A public company with more than $10 million in assets and 2,000 shareholders must:
- AObtain FINRA approval for annual reports
- BRegister with the SEC and file periodic reports✓ Correct answer
- CRegister with the Federal Reserve
- DRegister only with their state
Explanation
Why B — Register with the SEC and file periodic reports
Such companies must register/report to SEC. FINRA doesn’t approve reports, the Fed and states do not register public companies.
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