discuss the different instances when there is no duty to disclose in insider trading
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discuss the different instances when there is no duty to disclose in insider trading
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- What unfortunate lesson did the auditors learn from the situation in the Unregistered Sale of Securities case? What should auditors do when a violation of U.S. securities laws is suspected?The Securities and Exchange Commission’s mission is to regulate the securities markets by requiring full disclosure of information and preventing fraudulent activities. However, it does not regulate registration and reporting for every type of financial security. Required a. Briefly describe the markets and securities that are regulated by the SEC. b. Provide two examples of securities that are not subject to the SEC’s registration and reporting rulesWhat are the defenses that someone can take to charges of violations under the 1933 securities act?
- Explain why a duty to prevent insolvent trading is imposed on directors by statute. Provide an exampleUnder the 1933 Securities Act, which of the following must be proven by the purchaserof the security?Reliance on the Fraud byFinancial Statements The CPA(1) Yes Yes(2) Yes No(3) No Yes(4) No NoAccording to the AICPA Code of Professional Conduct, omitting material information on a financial disclosure is just as unethical as actively misleading investors with false information on a financial disclosure. Select one: True False
- Are non-IFRS financial data different from the IFRS financial information? How may RG230 be used to minimize the disclosure of non-IFRS financial information that may be misleading to investors?The UCC does not cover:. a. investment securities. b. sales of copyrights. c. sales of goods. d. transfer of negotiable instruments.Investments in equity securities for which the investor has insignificant influence over the investee are classified for reporting purposes under the fair value method. What is fair value?
