Investor Protection How the SEC Can Help Jack McCreery, staff attorney Office of Investor Education and Assistance The Usual Disclaimer The Securities and Exchange Commission, as a matter of policy, disclaims responsibility for any private publication or statement by any of its employees The views expressed in this presentation are those of Mr McCreery and not necessarily reflect the views of the SEC, its Commissioners, or other members of the SEC’s staff Who We Are and What We Do • Created in 1934 following the Stock Market Crash of 1929 • Administer the federal securities laws • Oversee brokerage firms and other investment service providers • Review filings by most public companies How the SEC Protects Investors • Assure that the securities markets are open, fair, and honest • Require companies to disclose information • Catch wrongdoers and impose punishment ranging from fines to kicking them out of the industry How the SEC Helps Investors Help Themselves • Show investors how to research investments and the people who sell them • Make information about publicly traded companies available to the public • Answer questions and handle complaints • Provide free educational materials SEC Web Resources Where can I find… • Special collections of information, such as updates on Enron, WorldCom • Financial statement filings from EDGAR • Fast answers library and our glossary • Calculators • Hot stock recommendations! Who Must File Reports A company must file reports if: It has 500 or more investors and $10 million or more in assets, or It lists its securities on: – American Stock Exchange – Boston Stock Exchange – Chicago Stock Exchange – Cincinnati Stock Exchange – International Securities Exchange – Nasdaq Stock Market – New York Stock Exchange – Pacific Exchange – Philadelphia Stock Exchange, or Its securities are quoted on the OTCBB Research Your Adviser! • Investment advisers who manage $25 million or more in client assets generally must register with the SEC • Check the SEC’s Investment Adviser Public Disclosure website under “Investment Management” on our website • Advisers with less than $25 million must register with the state securities agency where the principal place of business is Research Any Investment! • Read everything you can about a company • Check out company filings through the SEC’s website (www.sec.gov) & “EDGAR” • If you don’t understand an investment product, don’t buy it • If it sounds too good to be true, it probably is… Psst-want a hot stock tip? • www.mcwhortle.com (a very hot IPO opportunity) • www.growthventure.com/parsons (a fabulous prime bank site) • www.growthventure.com/oldglory (a glorious mutual fund) • www.growthventure.com/grdi (a hedge fund you shouldn’t miss) SEC Contact Information • Website: www.sec.gov • Phone: 1-800-732-0330 • Email: help@sec.gov • Mail: U.S Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-0213