Securities and Exchange Commission Historical Society

This Week in SEC History

June 14, 1976 - TSC Industries v Northway. Today in 1976 the Supreme Court’s TSC v Northway decision defined materiality (what must be disclosed to investors). Though the court’s definition set precedent, the SEC still prefers to define materiality in terms of context, as explained in Ted Sonde’s oral history interview.

New Gallery
Original PCAB Eight floor Reception Sign, from 2003 – 2019.
Original PCAOB headquarters reception sign, in place from 2003-2019.

Auditing the Auditors: Creating the Public Company Accounting Oversight Board

The Society is pleased to open its newest gallery on the founding and early history of the Public Company Accounting Oversight Board (PCAOB), a unique regulatory entity established by the Sarbanes-Oxley Act of 2002 to oversee, inspect and enforce standards for auditors of publicly traded companies.

The gallery, curated by Lucy Harvey, features an essay outlining the major decisions and challenges faced by those most closely involved in the PCAOB’s conception, establishment, and early years of functionality. The essay is supported and punctuated by dozens of papers, photos, and other distinctive artifacts new to the Museum's virtual collection.

Visit the Gallery

THANK YOU! This gallery was curated by Lucy Harvey and is sponsored by the Center for Audit Quality and its Governing Board member firms: Deloitte & Touche LLP, EY, KPMG LLP, PwC, Grant Thornton LLP, Crowe LLP, BDO USA, and RSM US LLP.
Society News
Cover of the 2020 SECHS Annual Report

Society Issues 2020 Annual Report

While 2020 was fraught with uncertainty due to the COVID-19 pandemic and other significant challenges, we look back at last year through a positive lens as we share our 2020 Annual Report.

This year’s report includes the narrative of activities, list of donors, and audited financial statements of the Securities and Exchange Commission Historical Society from January 1 through December 31, 2020.

Access the full report (PDF)

Permission for Use

The virtual museum and archive is copyrighted by the SEC Historical Society. The Society reserves the right to restrict access to or use of the museum by any user at any time.

Users are prohibited from sharing or downloading any material for publication or commercial purposes without written permission from the Executive Director. Requests for permission must be submitted by email and specify the material requested and for what purpose.

Material used with the Society's permission should be credited to: