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Filing problems? SEC invites companies to ask for help

Tammy Whitehouse | April 17, 2018

Where one entity’s financial statements get impossibly tangled up with another’s, the Securities and Exchange Commission is inviting companies to reach out and ask for some relief.

Seriously—the staff is taking calls from companies that are asking: “Can you cut me some slack on this reporting obligation?” And increasingly, the answer is yes.

One Big 4 firm even issued an alert recently telling its clients to look for opportunities to ask for relief. Before whipping up a wish list, however, companies should understand there’s a limit to what the SEC staff can do.

The relief is only available under Rule 3-13 of Regulation S-X, which governs filings companies must provide when they become attached to other...

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