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Securities Exchange Act of 1934

A foundational federal law that governs the buying and selling of securities (like stocks) and the operations of financial markets in the United States.

Registration Statement

A legal document that a company must file with the Securities and Exchange Commission (SEC) before it can offer its stock for sale to the public. It contains detailed information about the company, its finances, and the securities being offered.

Emerging Growth Company (EGC)

A company that has total annual gross revenues of less than $1.235 billion during its most recently completed fiscal year, which is granted certain regulatory benefits to ease its path to becoming a publicly traded company.

Securities and Exchange Commission (SEC)

A U.S. government agency responsible for protecting investors, maintaining fair and orderly functioning of securities markets, and facilitating capital formation.

Issuer

A legal entity, such as a corporation or government body, that develops, registers, and sells securities to finance its operations.

National Securities Exchange

A stock exchange, such as the New York Stock Exchange (NYSE) or Nasdaq, where securities are bought and sold publicly.