The 2008 Amendments to the SEC Rules Regarding Registration and Reporting

question 21

True/False

The 2008 amendments to the SEC rules regarding registration and reporting define a small business issuer as a noninvestment company with less than $20 million in public float.

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Definitions:

Repurchased Shares

Stocks that have been bought back by the issuing company from shareholders, reducing the amount of outstanding shares on the market.

Outstanding Shares

A corporation’s shares currently held by shareholders.

Articles of Incorporation

A paper submitted to the state authorities to formally set up a corporation.

Authorized Shares

The maximum number of shares that a corporation is legally permitted to issue, as specified in its charter.