SEC Quarterly Reporting Rules

The Securities & Exchange Commission (SEC) requires companies to file earnings reports no later than 45 days after the end of their first three quarters, and their quarterly and annual reports 90 days after their fiscal year end. Companies file quarterly earnings reports on Form 10-Q or 10-QSB and yearly earnings reports on Form 10-K or 10-KSB. A company can file these reports or announce earnings publicly whenever it chooses, provided it follows the 45- and 90-day guidelines set forth by the SEC.

However, in an attempt to make information available to the public in a more timely manner, the SEC adopted rules on August 27, 2002, that saw these 45- and 90-day requirements reduced to 35 and 60 days, respectively. The tightening of filing requirements, however, affects only public companies that have a public float of at least $75 million and have been subject to the Securities Exchange Act of 1934 for at least 12 months. The change in time periods was phased in over three years, starting November 15, 2002. For the first year, companies were allowed the 45- and 90-day requirements, then 40- and 75-day requirements the second year, and then 35- and 60-day requirements for the years thereafter.

Source: http://www.investopedia.com/ask/answers/04/050604.asp

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Chris is absolutely right. The SEC is suppose to act as a watchdog and ensure rules and regulations are being followed and if they aren't they can make your life a nightmare just like the IRS. You don't really want to piss off the SEC. With that said, Sears posting 3 days late is really small potatoes and the SEC has bigger fish to fry. They won't do anything to Sears. And who will complain anyway? The main shareholders are Eddie and Berkowitz.

@eyo An imbecile? Oh really. How much debt do you have smarty? How much gold and silver do you have stacks? How are your cars? You do own more than one I assume. How are your Harleys? What do you have?

That is what I thought. You are are broke, have nothing and your car is not roadworthy.

People like me terrify people like you. Ray-bans on. I ain't afraid of people like you.

I would not use a Wiki post as my main evidence. Since they are not the most reliable bastion of truth and accuracy.

@KHnn3uL-eyo - you are wrong (and an imbecile). Try being less angry and hateful in your posts.

Per Wikepedia: "The U.S. Securities and Exchange Commission (SEC) is an agency of the United States federal government. It holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States."

"In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C. § 78d and commonly referred to as the Exchange Act or the 1934 Act)."

@KHnn3uL-eyo I am still a relatively young person but I do know that the SEC while it really is a joke (seeing as they were more focused on watching "adult content" then doing their jobs back in 2007), that they like the IRS, can make your life a living nightmare if you are not careful and follow the rules!!

You are all lost in this. It is the SEC. Did you elect the Sec? No you didn't. The SEC has no authority to make law. The SEC is a joke. If you didn't know that then you are either very young or an imbecile.

The SEC can f-off. They didn't do anything back in 2008 so why expect anything now? The SEC is not the government. They are not accountable to you. Get it?

In December 2005, the SEC voted to adopt amendments that create a new category of "large accelerated filers" that includes companies with a public float of $700 million or more. The amendments also redefine "accelerated filers" as companies that have at least $75 million, but less than $700 million, in public float. As described in Release No. 33-8644 (Revisions to Accelerated Filer Definition and Accelerated Deadlines for Filing Periodic Reports), the current 10-K and 10-Q deadlines for accelerated filers are as follows:

Category of Filer Revised Deadlines For Filing Periodic Reports

Form 10-K Deadline Form 10-Q Deadline

Large Accelerated Filer

($700MM or more) 60 days 40 days

Accelerated Filer

($75MM or more and less than $700MM) 75 days 40 days

Non-accelerated Filer

(less than $75MM) 90 days 45 days

Thread regarding Sears layoffs

SEC Quarterly Reporting Rules

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