Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

SEC Updates Financial Reporting Manual

Joe Mont | October 24, 2014

The Securities and Exchange Commission’s Division of Corporation Finance has updated its Financial Reporting Manual, a guidebook intended to help SEC staff review compliance with reporting and disclosure rules. Although primarily intended for internal use, the updates serve as a resource for compliance officers, corporate counsel, and other who need to keep abreast of filing expectations.

Among the changes and clarifications included in the October 2014 update:

Transactions that Result in a Foreign Private Issuer Ceasing to be a Shell Company

A foreign private issuer may cease to be a shell company as a result of a reverse acquisition or merger. In this situation, the transaction, including financial statements of the other party to the transaction, must be reported on a Form 20-F within four business days of completion. The Form 20-F that is filed must include the same information as a registration of securities on Form 20-F.

If the...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.