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SEC Financial Agency Report FY 2012

SEC Financial Agency Report FY 2012

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Published by 83jjmack



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 understand its financial picture. This report provides information that satisfies

requirements contained in the following laws and regulations:

• Accountability of Tax Dollars Act of 2002

• Improper Payments Information Act of 2002, as amended

• Reports Consolidation Act of 2000

• Government Management Reform Act of 1994

• GPRA Modernization Act of 2010

• Federal Managers Financial Integrity Act of 1982

• Dodd-Frank Wall Street Reform and Consumer Protection Act Subtitle F. Sec. 963. Annual Financial

Controls Audit and Sec. 922. Whistleblower Protection

• Office of Management and Budget Circular A-123, Management’s Responsibility for Internal Control

• Office of Management and Budget Circular A-136, Financial Reporting Requirements

This year, the SEC is producing an AFR, with a primary focus on financial results, and an Annual

Performance Report (APR), with a primary focus on strategic goals and performance results, in lieu of a

combined Performance and Accountability Report. The FY 2012 APR will be included in the SEC FY 2014

Congressional Budget Justification in February 2013. An electronic version of the SEC FY 2012 AFR is

available at http://www.sec.gov/about/secafr2012.shtml. To comment on or obtain a hard copy of the

SEC’s FY 2012 AFR, email SECAFR@sec.gov.



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 understand its financial picture. This report provides information that satisfies

requirements contained in the following laws and regulations:

• Accountability of Tax Dollars Act of 2002

• Improper Payments Information Act of 2002, as amended

• Reports Consolidation Act of 2000

• Government Management Reform Act of 1994

• GPRA Modernization Act of 2010

• Federal Managers Financial Integrity Act of 1982

• Dodd-Frank Wall Street Reform and Consumer Protection Act Subtitle F. Sec. 963. Annual Financial

Controls Audit and Sec. 922. Whistleblower Protection

• Office of Management and Budget Circular A-123, Management’s Responsibility for Internal Control

• Office of Management and Budget Circular A-136, Financial Reporting Requirements

This year, the SEC is producing an AFR, with a primary focus on financial results, and an Annual

Performance Report (APR), with a primary focus on strategic goals and performance results, in lieu of a

combined Performance and Accountability Report. The FY 2012 APR will be included in the SEC FY 2014

Congressional Budget Justification in February 2013. An electronic version of the SEC FY 2012 AFR is

available at http://www.sec.gov/about/secafr2012.shtml. To comment on or obtain a hard copy of the

SEC’s FY 2012 AFR, email SECAFR@sec.gov.

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Published by: 83jjmack on Jan 04, 2013
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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 perormance results that enable the President, Congress, andthe public to assess the SEC’s accomplishments and understandits fnancial picture. This report provides inormation that satisfesrequirements contained in the ollowing laws and regulations:
Accountability o Tax Dollars Act o 2002
Improper Payments Inormation Act o 2002, as amended
Reports Consolidation Act o 2000
Government Management Reorm Act o 1994
GPRA Modernization Act o 2010
Federal Managers Financial Integrity Act o 1982
Dodd-Frank Wall Street Reorm and Consumer Protection Act Subtitle F. Sec. 963. Annual FinancialControls Audit and Sec. 922. Whistleblower Protection
Ofce o Management and Budget Circular A-123,
Management’s Responsibility for Internal Control 
Ofce 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
Perormance Report (APR), with a primary ocus on strategic goals and perormance results, in lieu o a
combined Perormance 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
 
32Perormance Highlights
 
38Strategic and Perormance Planning Framework 
 
38Perormance Achievements
 
40Management Assurances
 
43 Annual Assurance Statement
 
43
47
Message rom the Chie Financial Ocer
 
48Report o Independent Auditors
 
50 
Enclosure I: Management’s Response to Audit Opinion
61Financial Statements
 
64Notes to the Financial Statements
 
69Required Supplementary Inormation (Unaudited)
 
95Investor Protection Fund Financial Statements
 
98Notes to the Investor Protection Fund Financial Statements
 
101
107
Inspector General’s Statement on Management and Perormance 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 Enorcement Cases
 
125 Appendix C: SEC Divisions and Oces
 
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 inormation on selected terms and topics, please see “Fast Answers” at
.

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