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How long does it take to file a SEC Form 5?

Insiders must submit the Form 5 to the SEC within 45 days after the company’s year-end. SEC Form 5 must be filed electronically through the SEC’s EDGAR system. Section 16 reporting is the responsibility of each individual reporting person.

What does the SEC do?

The SEC was established by the passage of the U.S. Securities Act of 1933 and the Securities and Exchange Act of 1934, largely in response to the stock market crash of 1929 that led to the Great Depression. The SEC can itself bring civil actions against lawbreakers, and also works with the Justice Department on criminal cases.

What is a “known failure to file” under SEC rules?

Under SEC rules, a “known failure to file” includes the failure of any of these persons to file a Form 5, unless the company knows that no Form 5 is required or the person provides the company with a written representation that no Form 5 is required.

When was the SEC formed?

The SEC was formed in 1934 when the U.S. economy was in the iron grip of the Great Depression that had been partly precipitated by the market crash of 1929. Federal regulation of the securities markets was not a burning topic in the free-wheeling days of the 1920s.

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