What Is the Securities Act of 1933?The Securities Act of 1933 was created and passed into law to protect investors after the stock market crash of 1929. The legislation had two main goals: to ensure more transparency in financial statements so investors could make informed decisions about investments; and to establish laws against misrepresentation and fraudulent activities in the securities markets. Show
Key Takeaways
Understanding the Securities Act of 1933The Securities Act of 1933 was the first major legislation regarding the sale of securities. Prior to this legislation, the sales of securities were primarily governed by state laws. The legislation addressed the need for better disclosure by requiring companies to register with the Securities and Exchange Commission (SEC). Registration ensures that companies provide the SEC and potential investors with all relevant information by means of a prospectus and registration statement. The act—also known as the "Truth in Securities" law, the 1933 Act, and the Federal Securities Act—requires that investors receive financial information from securities being offered for public sale. This means that prior to going public, companies have to submit information that is readily available to investors. Today, the required prospectus has to be made available on the SEC website. A prospectus must include the following information:
Securities Exempt from SEC RegistrationSome securities offerings are exempted from the registration requirement of the act. These include:
The other main goal of the Securities Act of 1933 was to prohibit deceit and misrepresentations. The act aimed to eliminate fraud that happens during the sales of securities. President Franklin D. Roosevelt signed the Securities Act of 1933 into law as part of his famous New Deal. History of the Securities Act of 1933The Securities Act of 1933 was the first federal legislation used to regulate the stock market. The act took power away from the states and put it into the hands of the federal government. The act also created a uniform set of rules to protect investors against fraud. It was signed into law by President Franklin D. Roosevelt and is considered part of the New Deal passed by Roosevelt. The Securities Act of 1933 is governed by the Securities and Exchange Commission, which was created a year later by the Securities Exchange Act of 1934. Several amendments to the act have been passed to update rules numerous times over the years, with the latest enacted in 2018. Part 9. Criminal InvestigationChapter 4. Investigative Techniques9.4.4 Requests for InformationManual TransmittalNovember 19, 2021 Purpose(1) This transmits revised IRM 9.4.4, Requests for Information. Material Changes(1) Subsection 9.4.4.2.6.1 is revised to reflect the current Federal Aviation Administration (FAA) procedures. Effect on Other DocumentsThis IRM supersedes IRM 9.4.4, dated September 8, 2020. AudienceCI Effective Date(11-19-2021)
9.4.4.1 (12-10-2007) Overview
9.4.4.2 (12-10-2007) Government Entities
9.4.4.2.1 (12-10-2007) Internal Revenue Service Records
9.4.4.2.1.1 (12-10-2007) Martinsburg Computing Center
9.4.4.2.1.2 (12-10-2007) The Business Master File
9.4.4.2.1.3 (12-10-2007) The Individual Master File
9.4.4.2.1.4 (12-16-1998) Retention Register
9.4.4.2.1.5 (07-08-2011) Transcripts Defined
9.4.4.2.1.6 (07-08-2011) IRS Campus Records
9.4.4.2.1.7 (09-08-2020) Foreign Financial Transaction Forms
9.4.4.2.2 (12-10-2007) Social Security Administration
9.4.4.2.3 (12-10-2007) Department of Labor
9.4.4.2.4 (07-08-2011) State Department
9.4.4.2.5 (12-10-2007) Securities and Exchange Commission
9.4.4.2.5.1 (12-10-2007) Securities and Exchange Commission Files
9.4.4.2.5.2 (12-10-2007) Securities and Exchange Commission Publications
9.4.4.2.5.3 (12-10-2007) Securities Information Center
9.4.4.2.5.4 (12-10-2007) Other Information Available from Securities and Exchange Commission Regional Offices
9.4.4.2.6 (12-10-2007) Department of Transportation
9.4.4.2.6.1 (11-19-2021) Federal Aviation Administration
9.4.4.2.7 (12-10-2007) Department of the Treasury
9.4.4.2.7.1 (12-10-2007) Comptroller of Currency (Bank Examiners’ Reports)
9.4.4.2.7.2 (12-10-2007) Financial Management Services
9.4.4.2.7.3 (07-08-2011) Refund Checks
9.4.4.2.7.4 (12-10-2007) United States Treasury Checks Issued for United States Government Agencies
9.4.4.2.7.5 (12-10-2007) Bureau of the Public Debt
9.4.4.2.7.6 (12-10-2007) Mutilated Currency Reports
9.4.4.2.7.7 (12-10-2007) Financial Crimes Enforcement Network
9.4.4.2.8 (12-10-2007) Department of Homeland Security
9.4.4.2.8.1 (12-10-2007) Customs and Border Protection
9.4.4.2.8.2 (12-10-2007) United States Citizenship and Immigration Services
9.4.4.2.8.3 (12-10-2007) United States Coast Guard
9.4.4.2.8.4 (12-10-2007) Secret Service Records
9.4.4.2.8.5 (12-10-2007) Treasury Enforcement and Communication System
9.4.4.2.8.5.1 (07-08-2011) Requesting TECS Information
9.4.4.2.8.5.2 (12-10-2007) Witnesses to Testify Regarding Filings of Currency Banking Retrieval System Forms
9.4.4.2.9 (12-10-2007) Department of Justice
9.4.4.2.9.1 (12-10-2007) Bureau of Alcohol, Tobacco, Firearms, & Explosive Records
9.4.4.2.9.2 (12-10-2007) Federal Bureau of Investigation Records
9.4.4.2.9.3 (12-10-2007) Drug Enforcement Administration Records
9.4.4.2.9.4 (12-10-2007) El Paso Intelligence Center
9.4.4.2.10 (12-10-2007) US Postal Service
9.4.4.2.10.1 (12-10-2007) Postal Service Records
9.4.4.2.10.2 (12-10-2007) Postal Money Orders
9.4.4.2.11 (12-10-2007) Department of Defense
9.4.4.2.11.1 (12-10-2007) Defense Investigative Service
9.4.4.2.12 (12-10-2007) Department of Housing and Urban Development
9.4.4.2.12.1 (12-10-2007) Federal Housing Administration
9.4.4.2.13 (12-10-2007) Department of Veteran Affairs
9.4.4.2.14 (12-10-2007) Federal Court
9.4.4.2.15 (12-10-2007) National Archives and Records Administration
9.4.4.2.15.1 (12-10-2007) Federal Records Center
9.4.4.2.16 (12-10-2007) Federal Reserve Bank Records
9.4.4.2.17 (12-10-2007) Railroad Retirement Board
9.4.4.2.18 (12-10-2007) Export-Import Bank
9.4.4.2.19 (12-10-2007) Department of Education Records
9.4.4.2.20 (12-10-2007) Small Business Administration
9.4.4.2.21 (12-10-2007) Gaming Commissions and Enforcement
9.4.4.2.21.1 (12-10-2007) State of New Jersey Division of Gaming Enforcement
9.4.4.2.21.2 (12-10-2007) Other Gaming Regulatory Agencies
9.4.4.3 (12-10-2007) Obtaining Records from Financial Institutions
9.4.4.3.1 (12-10-2007) Alternative Methods of Obtaining Financial Institution Information
9.4.4.3.1.1 (12-10-2007) Authority to Use Alternative Methods
9.4.4.3.1.2 (12-10-2007) Provisions for a Formal Written Request
9.4.4.3.1.2.1 (12-10-2007) Use of a Formal Written Request
9.4.4.3.1.2.2 (12-10-2007) Formal Written Request Package
9.4.4.3.1.2.2.1 (09-08-2020) The Formal Written Request
9.4.4.3.1.2.2.2 (12-10-2007) Application for Delay of Notice
9.4.4.3.1.2.2.3 (12-10-2007) Affidavit of Special Agent
9.4.4.3.1.2.2.4 (12-10-2007) Ex Parte Order to Delay Notice and Order to Seal Ex Parte Application
9.4.4.3.1.2.3 (12-10-2007) Approval
9.4.4.3.1.2.4 (12-10-2007) Extending the Delay of Notice
9.4.4.3.1.2.4.1 (12-10-2007) Nunc Pro Tunc Extension
9.4.4.3.1.2.5 (12-10-2007) Notice of the Formal Written Request
9.4.4.3.1.2.6 (12-10-2007) Sharing Information
9.4.4.3.1.2.7 (12-10-2007) Production Costs
9.4.4.3.1.2.8 (12-10-2007) Record Keeping
9.4.4.3.1.2.9 (12-10-2007) Canvas Letters Differentiated from the Formal Written Request
9.4.4.3.1.3 (12-10-2007) Special Procedures for Obtaining Financial Records Related to International Terrorism
9.4.4.3.1.3.1 (12-10-2007) Section 314 Requests for Financial Records in Terrorism Investigations
9.4.4.3.2 (12-10-2007) Business Organizations
9.4.4.3.2.1 (12-10-2007) Banks
9.4.4.3.2.2 (12-10-2007)
JP Morgan Chase & Co.
9.4.4.3.2.3 (12-10-2007) Federal Reserve’s Fedwire Funds Transfer System
9.4.4.3.3 (12-10-2007) Corporate Stock
9.4.4.3.4 (12-10-2007) Bonds
9.4.4.3.5 (12-10-2007) Stock Exchanges
9.4.4.3.6 (12-10-2007) Transfer Agents
9.4.4.3.7 (12-10-2007) Dividend Disbursing Agent
9.4.4.3.8 (12-10-2007) Stock Brokerage Firms
9.4.4.3.8.1 (12-10-2007) Merrill Lynch & Company
9.4.4.3.9 (12-10-2007) Commodities
9.4.4.3.10 (12-10-2007) Abstract and Title Company
9.4.4.3.11 (12-10-2007) Agriculture Records
9.4.4.3.12 (12-10-2007) Automobile Manufacturing Company Records
9.4.4.3.13 (12-10-2007) Bonding Company Records
9.4.4.3.14 (12-10-2007) Credit Agency Records
9.4.4.3.15 (12-10-2007) Department Store Records
9.4.4.3.16 (12-10-2007) Detective Agency Records
9.4.4.3.17 (12-10-2007) Distributor’s Records
9.4.4.3.18 (12-10-2007) Drug Store Records
9.4.4.3.19 (12-10-2007) Fraternal, Veterans, Labor, Social & Political Organization Records
9.4.4.3.20 (12-10-2007) Hospital Records
9.4.4.3.21 (12-10-2007) Hotel Records
9.4.4.3.22 (12-10-2007) Laundry & Dry Cleaning Records
9.4.4.3.23 (12-10-2007) Insurance Company Records
9.4.4.3.23.1 (12-10-2007) The Equitable Life Assurance Society
9.4.4.3.23.2 (12-10-2007) Prudential Insurance Company
9.4.4.3.23.2.1 (12-10-2007) Liberty Mutual Insurance Records (former Prudential Insurance Companies)
9.4.4.3.23.3 (12-10-2007) Travelers Insurance Company
9.4.4.3.23.4 (12-10-2007) Union Central Life Insurance Company
9.4.4.3.23.5 (12-10-2007) Metropolitan Life Insurance Company
9.4.4.3.23.6 (12-10-2007) Pan American Life Insurance Company
9.4.4.3.23.7 (12-10-2007) CNA Insurance Companies
9.4.4.3.23.8 (12-10-2007) Aetna Life and Casualty
9.4.4.3.24 (12-10-2007) Newspaper Records
9.4.4.3.25 (12-10-2007) Oil Companies
9.4.4.3.25.1 (12-10-2007) Chevron Credit Records
9.4.4.3.26 (12-10-2007) Photograph Records
9.4.4.3.27 (12-10-2007) Private Business Records
9.4.4.3.28 (12-10-2007) Publication Records
9.4.4.3.29 (12-10-2007) Public Utility Company Records
9.4.4.3.30 (12-10-2007) Real Estate Agency or Savings and Loan Association Records
9.4.4.3.31 (12-10-2007) Telephone Company Records
9.4.4.3.31.1 (12-10-2007) AT&T Wireless
9.4.4.3.32 (12-10-2007) Transportation Company Records
9.4.4.3.33 (12-10-2007) Consumer Loan Exchange Records
9.4.4.3.34 (12-10-2007) Marshall Field and Company
9.4.4.3.35 (12-10-2007) Western Union
9.4.4.3.36 (12-10-2007) National Credit Card Agencies
9.4.4.3.36.1 (12-10-2007) American Express
9.4.4.3.36.2 (12-10-2007) Citibank Diners Club and Carte Blanche
9.4.4.3.37 (12-10-2007) Car Rental Agency Records
9.4.4.3.37.1 (12-10-2007) Avis Rent-a-Car, Inc.
9.4.4.3.37.2 (12-10-2007) Hertz Corporation
9.4.4.3.37.3 (12-10-2007) National Vanguard Car Rental
9.4.4.3.38 (12-10-2007) Horse Registration Records
9.4.4.3.38.1 (12-10-2007) Jockey Club of America
9.4.4.3.38.2 (12-10-2007) American Quarter Horse Association
9.4.4.3.38.3 (12-10-2007) United States Trotting Association
9.4.4.3.39 (12-10-2007) Amway Corporation
9.4.4.4 (12-10-2007) Information from Foreign Countries
9.4.4.4.1 (07-08-2011) General Procedures
9.4.4.4.2 (07-08-2011) Information from Canada
9.4.4.4.2.1 (12-10-2007) United States Swiss Treaty on Mutual Assistance in Criminal Matters
9.4.4.4.3 (07-08-2011) Data to be Included in Requests for Information from Foreign Countries
9.4.4.4.4 (12-10-2007) Witnesses in Foreign Countries
9.4.4.4.5 (07-08-2011) Information from INTERPOL
9.4.4.4.6 (12-10-2007) Information from a Foreign Financial Investigative Unit
Exhibit 9.4.4-1 Financial Crimes Enforcement Network Financial Intelligence Units around the World
Exhibit 9.4.4-2
Formal Written Request
Exhibit 9.4.4-3 The Application for Delay of Notice
Exhibit 9.4.4-4 Affidavit of Special Agent
Exhibit 9.4.4-5 Ex Parte Order to Delay Notice and Order to Seal Ex Parte Application
Exhibit 9.4.4-6 Ex Parte Application for Extension of Delay of Notice and Order Sealing Documents
Exhibit 9.4.4-7 Order Extending Delay of Notice and Order to Seal
Exhibit 9.4.4-8 Ex Parte Application for Nunc Pro Tunc Extension of Delay of Notice and Order Sealing Documents
Exhibit 9.4.4-9 Notice to the Customer
Exhibit 9.4.4-10 Official Request for Financial Records Related to Investigation of Terrorism
Page Last Reviewed or Updated: 26-Nov-2021 What kind of reports provide the information captured by the accounting system?An AIS produces reports including accounts receivable aging reports based on customer information, depreciation schedules for fixed assets, and trial balances for financial reporting. Customer lists, taxation calculations, and inventory levels may also be reproduced.
What is accounting as an information system?An accounting information system (AIS) is a structure that a business uses to collect, store, manage, process, retrieve, and report its financial data so it can be used by accountants, consultants, business analysts, managers, chief financial officers (CFOs), auditors, regulators, and tax agencies.
When auditors assess the internal controls in an AIS as part of the Sarbanes Oxley Act?Terms in this set (42)
When auditors assess the internal controls in and AIS as part of the Sarbanes-Oxley Act, they are serving in their role as an evaluator of the system.
Which of the following is responsible for preparing information that will be used to make financial decisions?Financial accounting is responsible for preparing the organization's financial statements—including the income statement (also called the profit/loss statement), the statement of owner's equity, the balance sheet, and the statement of cash flows—that summarize a company's past performance and evaluate its current ...
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