Perhaps it’s time for some guidance to help understand the various forms of guidance the Securities and Exchange Commission is publishing these days.
The SEC has long published different forms of guidance to help corporate filers and the investing public understand its rules and procedures, with each guidance format carrying its own shade of formality, officiality, and legal application. The result is a mish-mash of various views, reasoning, and pronouncements that can be difficult for corporate issuers, securities lawyers, and others to wade through for direction.
