Travelling places for The 1934 Act requires continuing registration and disclosure by what are called registered companies. These must make quarterly and annual disclosures, as well as other disclosures of important events. Annual reports must be filed with the SEC and sent to shareholders before the annual meeting of shareholders required under state corporation law. Any person who solicits a proxy from a shareholder must register with the SEC. A proxy is the right to vote the shares of another person at a shareholder meeting. Persons who make tender offers to buy sufficient stock to take control of a company must register with the SEC once they have acquired five percent of the stock of the target company. Insider trading by directors, high-level officers, and large stockowners is regulated. Travelling places 2016.