SEC staff completes processing of CEO, CFO statements.

• Position: SEC News

The SEC has completed processing the sworn statements by the CEOs and CFOs of the largest U.S.-based companies and found that the overwhelming majority certified the material accuracy and completeness of their companies' prior disclosure reports.

The SEC concluded that CEOs and CFOs of 16--or 2.3 percent--of the 947 companies whose reports were due Aug. 14 did not certify to the accuracy and completeness of their companies' reports and instead filed explanations or other forms of certification.

"The certification procedures for America's largest companies have had the desired effect," reports SEC Chairman Harvey Pitt. "We wanted assurances that senior corporate executives are...