How would a layman know if a company has shares subject to Section 12 of the Exchange Act?

April 27, 2009 11:02 AM

How would a layman know if a company has shares subject to Section 12 of the Exchange Act?

How would someone who is not a stock guru know if a particular company is an issuer of stock subject to Section 12 of the Exchange Act [15 U.S.C. § 78l]? I'm trying to determine if a person is serving as an officer of such as company despite being subject to an injunction barring said person from doing so.

posted by fuzzy_wuzzy to Law & Government (2 answers total)

Best answer: Does the company have shares traded on the AMEX, NASDAQ or NYSE? If so, they are required to register the shares under Section 12 of the Exchange Act in order to list such shares.
posted by gagglezoomer at 11:39 AM on April 27, 2009

IANAL...

But I think Section 12 may applies to more than just publicly-traded companies. Think of companies with publicly-traded bonds or large private companies with a bunch of shareholders--they have to file financial reports with the SEC.

In any case, use the SEC's search engine to find SEC filers and then look at the 10-Ks.
posted by mullacc at 1:47 PM on April 27, 2009