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Rules

SEC Rule 13a-15

Requires every issuer with a registered class of securities to maintain disclosure controls and procedures. Any issuer that has filed an annual report for the prior fiscal year must maintain internal control over financial reporting.

Rule Overview

Jurisdiction: United States

Regulator: SEC

Topic: Controls and Procedures

Overview
Further Reading

The rule requires the issuer’s management, with the participation of the principal executive and principal financial officers, to evaluate the effectiveness of the issuer’s disclosure controls and procedures at the end of each financial quarter.

A similar evaluation is required for the issuer’s:

  • internal control over financial reporting at the end of each fiscal year
  • any material change in the issuer’s internal control over financial reporting that ocurred during each fiscal year or quarter as applicable

Further Reading

SEC Release 34-55929 Go to https://www.sec.gov/files/rules/interp/2007/33-8810.pdf