Beyond EDGAR: Other SEC Databases and Public Resources for Investigating Companies
The SEC offers additional tools beyond the EDGAR database for investigating companies, tracking securities transactions, and understanding regulatory actions. Furthermore, other U.S. government databases can provide valuable insights into corporate activities, regulatory compliance, and potential misconduct. This article explores these resources and how to use them effectively.
SEC Databases Beyond EDGAR
The SEC operates several specialized databases that complement EDGAR. These tools focus on specific aspects of securities regulation, enforcement, and financial market transparency.
1. SEC Enforcement Actions and Litigation Releases
What It Tracks:
Official SEC actions against companies or individuals for securities law violations.
Includes lawsuits, administrative proceedings, and settlements.
Why It’s Useful:
Provides details on fraudulent schemes, insider trading, and other misconduct.
Offers case updates and final outcomes.
How to Access:
Visit the SEC Enforcement Actions Archive.
Search by keyword, company name, or type of violation.
Example Use Case:
Investigate a company's involvement in insider trading or securities fraud.
2. SEC Whistleblower Program
What It Tracks:
Reports from whistleblowers leading to SEC investigations and enforcement actions.
Includes case summaries and whistleblower award notices.
Why It’s Useful:
Highlights cases initiated by insider information, often involving complex fraud schemes.
How to Access:
Visit the SEC Whistleblower Program.
Example Use Case:
Identify enforcement actions tied to internal company misconduct.
3. SEC Investment Adviser Public Disclosure (IAPD)
What It Tracks:
Registration and disciplinary history of investment advisers and firms.
Lists actions taken by the SEC or other regulators.
Why It’s Useful:
Helps assess the credibility and legal history of financial advisers.
How to Access:
Use the IAPD Database.
Example Use Case:
Investigate a company’s advisory arm for prior disciplinary actions.
4. EDGAR Full-Text Search and Company Filings
What It Tracks:
Advanced search across EDGAR filings for specific phrases or trends.
Why It’s Useful:
Enables deep-dive investigations into specific risks, penalties, or disclosures.
How to Access:
Use the EDGAR Full-Text Search.
Example Use Case:
Search for “material weaknesses” or “legal settlements” in filings.
5. SEC’s FOCUS Reports
What It Tracks:
Financial and operational data submitted by broker-dealers.
Covers net capital, customer protection, and financial conditions.
Why It’s Useful:
Helps uncover financial stress or regulatory violations in brokerage firms.
How to Access:
Available through the SEC or FINRA for authorized users.
Other U.S. Government Databases for Investigating Companies
Beyond the SEC and FTC, numerous other U.S. government resources provide valuable data for corporate investigations.
1. U.S. Department of Justice (DOJ)
What It Tracks:
Criminal cases, fraud investigations, and antitrust violations.
Civil and criminal penalties for corporate misconduct.
Key Tools:
DOJ Press Releases: Tracks major corporate cases.
Antitrust Case Filings: Lists monopolistic and anti-competitive practices.
Example Use Case:
Investigate if a company has been penalized for price-fixing or fraud.
2. U.S. Treasury Department’s OFAC Sanctions List
What It Tracks:
Companies and individuals subject to sanctions for illegal activities.
Focus on money laundering, terrorism financing, and corruption.
Key Tools:
OFAC Sanctions List Search: Search for sanctioned entities.
FinCEN Enforcement Actions: Lists penalties for financial crimes.
Example Use Case:
Verify if a company or affiliate is under U.S. sanctions.
3. U.S. Patent and Trademark Office (USPTO)
What It Tracks:
Patents, trademarks, and intellectual property disputes.
Why It’s Useful:
Identifies patent disputes or trademark violations that may signal litigation or financial risks.
How to Access:
Search the USPTO Database.
Example Use Case:
Investigate intellectual property disputes tied to a company.
4. OSHA Establishment Search
What It Tracks:
Workplace safety violations and fines imposed by the Occupational Safety and Health Administration.
Why It’s Useful:
Identifies companies fined for unsafe working conditions or negligence.
How to Access:
Use the OSHA Database.
Example Use Case:
Investigate safety violations at manufacturing plants or facilities.
5. Federal Procurement Data System (FPDS)
What It Tracks:
Tracks federal government contracts and spending.
Lists companies that have won contracts, along with contract values and descriptions.
Why It’s Useful:
Reveals which companies are doing business with the U.S. government.
Identifies fraud or performance issues related to federal contracts.
How to Access:
Use the FPDS Database.
Example Use Case:
Investigate a company’s federal contracts for compliance violations or irregularities.
6. U.S. General Services Administration (GSA) Excluded Parties List
What It Tracks:
Companies and individuals barred from doing business with the federal government due to misconduct.
Why It’s Useful:
Highlights companies penalized for fraud, poor performance, or other violations.
How to Access:
Check the SAM Exclusions List.
Example Use Case:
Determine if a company has been blacklisted from federal contracts.
7. Environmental Protection Agency (EPA) ECHO Database
What It Tracks:
Environmental violations, penalties, and compliance history for facilities.
Why It’s Useful:
Reveals patterns of non-compliance with environmental laws, such as pollution violations.
How to Access:
Visit the ECHO Database.
Example Use Case:
Investigate if a company has been fined for environmental violations.
8. Small Business Administration (SBA) Loan Default Data
What It Tracks:
Defaults on government-backed loans and related enforcement actions.
Why It’s Useful:
Identifies financial struggles or potential fraud tied to SBA loans.
How to Access:
Check SBA enforcement press releases at SBA Newsroom.
Example Use Case:
Investigate whether a company defaulted on SBA loans or committed fraud during the application process.
9. U.S. Customs and Border Protection (CBP) Fines and Penalties
What It Tracks:
Enforcement actions for import/export violations, including smuggling or tariff evasion.
Why It’s Useful:
Helps identify companies involved in illegal trade practices.
How to Access:
Review press releases and enforcement actions at CBP Newsroom.
Example Use Case:
Check if a company has been fined for customs violations.
10. Good Jobs First Violation Tracker
What It Tracks:
A comprehensive database of corporate misconduct, including penalties from multiple federal agencies.
Why It’s Useful:
Consolidates fines and violations from various government sources into one searchable platform.
How to Access:
Visit the Violation Tracker.
Example Use Case:
Investigate a company’s complete violation history across agencies like the SEC, EPA, OSHA, and DOJ.
How to Combine These Databases for Investigations
Start with SEC Filings (EDGAR and Other Tools):
Analyze financial disclosures, insider transactions, and enforcement actions.
Use OpenCorporates to Map Corporate Structures:
Identify related entities, shell companies, and ownership concealment.
Leverage FTC Databases for Consumer Complaints and Privacy Issues:
Investigate consumer fraud, privacy breaches, and deceptive practices.
Explore Specialized Databases:
Check the DOJ for criminal cases, EPA for environmental violations, and OSHA for workplace safety issues.
Cross-Reference Findings:
Use tools like the Violation Tracker to consolidate results from multiple agencies.
Real-World Example
Case Study: Purdue Pharma
SEC Filings:
Identified lawsuits and liabilities disclosed in 10-Ks.
OpenCorporates:
Mapped corporate ownership and connections to subsidiaries.
FTC Databases:
Found consumer complaints about deceptive opioid marketing.
EPA ECHO Database:
Checked for environmental compliance at manufacturing facilities.
Conclusion
The SEC, OpenCorporates, FTC, and other government databases provide a wealth of publicly accessible information to investigate companies for fraud, misconduct, or regulatory violations. By combining these tools, you can uncover financial irregularities, hidden ownership structures, consumer complaints, and enforcement actions. These resources are invaluable for due diligence, research, and uncovering the truth behind corporate activities.
1. https://www.sec.gov/litigation.shtml
2. https://www.sec.gov/whistleblower
3. https://adviserinfo.sec.gov/
4. https://www.sec.gov/edgar/searchedgar/webusers.htm
5. https://www.justice.gov/news
6. https://www.justice.gov/atr/antitrust-case-filings
7. https://sanctionssearch.ofac.treas.gov/
8. https://www.fincen.gov/news-room/enforcement-actions
9. https://www.uspto.gov/
10. https://www.osha.gov/pls/imis/establishment.html
11. https://www.fpds.gov/fpdsng_cms/index.php/en/
12. https://sam.gov/
13. https://echo.epa.gov/
14. https://www.sba.gov/about-sba/newsroom
15. https://www.cbp.gov/newsroom
16. https://www.goodjobsfirst.org/violation-tracker