FISCAL YEAR 2012 AGENCY FINANCIAL REPORT
U.S. SECURITIES AND EXCHANGE COMMISSION
About This Report
The U.S. Securities and Exchange Commission’s (SEC) fscal year(FY) 2012 Agency Financial Report (AFR) provides fnancial and high-level perormance results that enable the President, Congress, andthe public to assess the SEC’s accomplishments and understandits fnancial picture. This report provides inormation that satisfesrequirements contained in the ollowing laws and regulations:
•
Accountability o Tax Dollars Act o 2002
•
Improper Payments Inormation Act o 2002, as amended
•
Reports Consolidation Act o 2000
•
Government Management Reorm Act o 1994
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GPRA Modernization Act o 2010
•
Federal Managers Financial Integrity Act o 1982
•
Dodd-Frank Wall Street Reorm and Consumer Protection Act Subtitle F. Sec. 963. Annual FinancialControls Audit and Sec. 922. Whistleblower Protection
•
Ofce o Management and Budget Circular A-123,
Management’s Responsibility for Internal Control
•
Ofce o Management and Budget Circular A-136,
Financial Reporting Requirements
This year, the SEC is producing an AFR, with a primary ocus on fnancial results, and an Annual
Perormance Report (APR), with a primary ocus on strategic goals and perormance results, in lieu o a
combined Perormance and Accountability Report. The FY 2012 APR will be included in the SEC FY 2014
Congressional Budget Justifcation in February 2013. An electronic version o the SEC FY 2012 AFR isavailable at
To comment on or obtain a hard copy o theSEC’s FY 2012 AFR, email SECAFR@sec.gov.
Contents
5
Vision, Mission, Values and Goals
6History and Purpose
7Organizational Structure and Resources
8FY 2012 Year in Review
12Looking Forward
28Financial Highlights
32Perormance Highlights
38Strategic and Perormance Planning Framework
38Perormance Achievements
40Management Assurances
43 Annual Assurance Statement
43
47
Message rom the Chie Financial Ocer
48Report o Independent Auditors
50
Enclosure I: Management’s Response to Audit Opinion
61Financial Statements
64Notes to the Financial Statements
69Required Supplementary Inormation (Unaudited)
95Investor Protection Fund Financial Statements
98Notes to the Investor Protection Fund Financial Statements
101
107
Inspector General’s Statement on Management and Perormance Challenges
108Management’s Response to Inspector General’s Statement
114Summary o Financial Statement Audit and Management Assurances
118Improper Payments Elimination and Recovery Act Reporting Details
119
121
Appendix A: Chairman and Commissioners
121 Appendix B: Major Enorcement Cases
125 Appendix C: SEC Divisions and Oces
145 Appendix D: Glossary o Selected Terms
147 Appendix E: Acronyms
151
Available on the Web at
To contact the SEC, please see
or “Contact Us” at
For urther inormation on selected terms and topics, please see “Fast Answers” at
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Strategic and Performance Planning Framework for SEC Financial Agency Report FY 2012
The U.S. Securities and Exchange Commission’s (SEC) fiscal year
(FY) 2012 Agency Financial Report (AFR) provides financial and highlevel performance results that enable the President, Congress, and the public to assess the SEC’s accomplishments and… (More)
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