The Securities and Exchange Commission yesterday advised all publicly owned companies to inform their shareholders if the Carter admistration's wage and price standards have a favorable or unfavorable material effect on their operations.

On Oct. 24, President Carter asked business and labor voluntarily to limit annual wage and fringe benefit increases to 7 percent.

Carter also requested that most companies limit price increases to one-half percentage point above their average annual price increase in 1979-1977.

The administration has promised to channel government purchases to those companies whose pay and pricing policies meet the standards. Companies that do not comply with the voluntary restraints risk losing government contracts.

The Carter administration also has threatened to relax protective trade barriers in industries where wage and price increases exceed the standards.

"Consideration should be given to such matters as possible loss of government sales if the issuer does not comply with the standards," the SEC said.

Some companies may not be able to pass along increased costs boosting the price of a product or service.

The SEC said that the company must report if there is "a possible decrease in income or revenue if compliance with the standards would prevent increased costs from being passed on."

The reports to investors would be included in documents such as the quarterly and annual reports.

"The responsibility for making such an announcement . . . rests with management," the SEC said. "Moreover, not only be reported, they must be reported promptly."

This is the third time in recent years that the SEC has sent a similar notice to companies.