Fancorp regularly trades in securities on a national exchange. Which of the following is true concerning the company's requirement to report to the SEC?

The options available are:

a) Must file annual and quarterly financial reports

b) Requirement to file depends on the company's assets and shareholder base.

c) Not required to report information to the SEC.

d) Required to report major business developments and must file annual and quarterly financial reports.

Answer:

d) Required to report major business developments and must file annual and quarterly financial reports.

Explanation:

It is expected that firms or companies who regularly trades in securities on a national exchange is required by law under the United States security and exchange commission to report major business developments and must file annual and quarterly financial reports using form 10-K and form 10-Q made available by the security and exchange commission.

This is done by the filling the Form 10-K for yearly reports while Form 10-Q for their quarterly reports, and report the business advancement, for example, budgetary exchange, mergers, procurement and so forth to them consistently

Hence, Fancorp is required to report major business developments and must file annual and quarterly financial reports.