Stock Exchange Clarification Act 2025
This matter has been repealed, voided, or is otherwise out of date
Repealed by Economic Streamlining Amendment 2026 passed and signed 25 April 2026.
Stock Exchange Clarification Act 2025
Tied vote by the Senate, tiebroken by the Vice President, and signed by the President on 17 November 2025.
Authored by: Calvus Aelius
Sponsored by: emilianapoleon
Preamble
Whereas there is no written functionality of the Stock Market of SimDemocracy,
Whereas there are no obligations for enterprises,
Whereas there are no obligations for investors,
Therefore this bill aims to clarify the obligations of enterprises and investors.
Be it enacted by the Senate of SimDemocracy
Article 1: Going Public
§1. In order to go public, a written request by the administrative head of the enterprise must be made to the Financial Overseer of the Stock Exchange.
§2. The contents of said request are as follows:
- (a) enterprise name
- (b) founder(s)
- (c) type of service/product offered
- (d) total amount of shares
- (e) amount of shares offered for sale
- (f) average weekly revenue
- (g) average weekly profit
- (h) approximate weekly average active client count
Article 2: Contracts
§1. Once an enterprise goes public it agrees to enter a contract with whichever investor may buy any amount of shares offered by said enterprise.
- §1.1. Said contract binds the enterprise to certain obligations, specified in Article 4: Obligations.
Article 3: Financial Reports
§1. Companies which go public agree to hiring auditors, which are required to send a financial report to the Financial Overseer of the Stock Exchange on one of the last 2 days of every week.
§2. Said financial reports contain:
- (a) the name of the enterprise
- (b) the amount of active clients,
- (c) the revenue,
- (d) and the profit
over the week. §2.1. The contents of said financial reports are nothing but valid and correct.
Article 4: Obligations
§1. As the recipient of an investor’s funding in form of SimDem’s current official currency, the enterprise is obligated to pay a percentage of the previous week’s profit to the investor.
- §1.1. The percentage of the total previous week’s profit made by the enterprise received by the investor is equal to the percentage of the enterprise owned by said investor.
- §1.2. The payment of the percentage of the profit to the investor takes place on Monday or Tuesday.
§2. As a provider of monetary funds in exchange for equity, the investor is obligated to the following:
- §2.1. accept any financial losses bound to the contract with any enterprise, should said enterprise’s profit be in the negative.
- §2.2. refrain from participating in activities such as insider trading and market manipulation.