U.S. securities laws generally require regular reporting only for companies that have sold securities in a public sale, are publicly traded, or have more than 2,000 registered holders or 500 registered holders who are unqualified investors, plus more than $10 million in assets. These are called “state-owned enterprises”. Other regulatory regimes regulate disclosure by financial institutions and investment firms. However, it should be noted that the opening of bankruptcy proceedings or any other type of litigation against the company would not be included in the Secretary of State`s records. Instead, this type of information would have to be discovered through litigation research in state and county start-up courts and would require research in all state and federal courts for certain types of litigation.  Although some states require a private company to appoint its original directors at the time of its formation, there is no obligation to update this information and there is no obligation to disclose authorized representatives to deal with third parties. A private company is not required to make its accounts or other financial information available to the public.  In Europe, EU Member States must transpose EU law into directives. This allows for a uniform system of minimum disclosure requirements across all EU countries, although Member States are generally free to implement stricter rules than those required by the Directives and also have some flexibility to implement the reduced disclosure requirements for small and medium-sized enterprises (explained in more detail below). The European system makes this information available to private companies through a simple search in a country`s central register. This information is available not only to persons who have bargaining power or any kind of legal or contractual power or rights vis-à-vis the Company, but also to voters who do not have the same weight or other legal rights (or, by the way, have none at all). From this point of view, the EU directives have achieved their objective of protecting the interests of third parties in their relations with companies established in the EU.
Note: The company`s CK number is what we need to find a company disclosure certificate. However, if you have only one company name, we will provide you with the certificate for the first corresponding query. If there is no such company in the database, you will still be charged R150 for the search. Tara L. Royal, Counsel, Office of Disclosure Regulation, Investment Management Division, at (202) 942-0721 (re: Matters relating to investment companies) This information is published in the Official Journal or in the Official Journal designated for that purpose by the Member State concerned. Such micro-enterprises may be allowed not to provide an explanatory note to their annual accounts or to draw up an annual report and may even be exempted from the obligation to publish annual accounts, but one of these possible exceptions only applies if the otherwise necessary information is disclosed elsewhere. As a result, some basic disclosure requirements will continue to apply.  In certain sectors of the economy, disclosure to a regulatory authority may be necessary and therefore made available to the public, including through requests for information. In addition to generally detailed rules on the content of the documents required, the Fourth Company Law Directive contains rigid valuation rules for annual accounts.
The Directive also provides that the annual report must contain at least a truthful and fair assessment of the development and performance of the undertaking and its situation, as well as a description of the main risks and uncertainties it faces. Member States may require small undertakings to publish only abridged balance sheets with abridged annexes containing less information than is otherwise required. Member States may also derogate from the obligation to draw up annual reports on small undertakings, provided that certain information on the acquisition of own shares by a company is set out in the Notes on The Accounts. Finally, Member States may exempt small undertakings from the obligation to have their annual accounts audited by a statutory auditor. Since March 2012, Member States also have the possibility to exempt micro-enterprises from complying with other requirements of the Fourth Company Law Directive.  To qualify as a micro-enterprise, a business must meet all of the following criteria: The cost of each certificate is R150 and will usually be emailed to you within 24 hours. .