Financial Disclosure: SEC Issues Request for Comment on Regulation S-X Requirements Relating to Entities Other Than the RegistrantSullivan & Cromwell LLP - October 12, 2015
On September 25, 2015, the SEC issued a release (the “Release”) seeking public comment regarding the financial disclosure requirements in Regulation S-X for certain entities other than the registrant. The Release, which is part of the SEC’s Disclosure Effective Initiative, invites comment on four rules:
- Rule 3-05, Financial Statements of Business Acquired or to be Acquired;
- Rule 3-09, Separate Financial Statements of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons;
- Rule 3-10, Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered; and
- Rule 3-16, Financial Statements of Affiliates Whose Securities Collateralize an Issue Registered or Being Registered.