Financial Disclosures About Acquired and Disposed Businesses: Proposed Amendments Update Significance Tests, Expand Use of Pro Forma Financial Information in Measuring Significance, and Amend the Pro Forma Financial Information Requirements with Respect to Presenting Adjustments

Sullivan & Cromwell LLP - May 8, 2019
READ MORE

On May 3, 2019, the Securities and Exchange Commission issued a release proposing amendments to the financial disclosure requirements for financial statements of businesses acquired or to be acquired and for business dispositions. The Commission also proposed new and amended rules for financial reporting of acquisitions by registered investment companies and business development companies. Among other items, the proposed amendments update significance tests, expand the use of pro forma financial Information in measuring significance and amend the pro forma financial information requirements with respect to presenting adjustments.