What's New in the Division of Corporation Finance
November 2020
Speech
- The Regulation of Corporation Finance – A Principles-Based Approach
William Hinman, Director, Division of Corporation Finance
November 18, 2020
Accounting and Financial Reporting
- Division of Corporation Finance Financial Reporting Manual (UPDATED 11/18/2020)
Revised to reflect changes to smaller reporting company, accelerated filer and large accelerated filer definitions and amendments from Disclosure Update and Simplification; clarified the application of Rule 3-13 to Form 8-K and the income test for Rule 3-09 financial statements when there is more than one equity method investee; clarified audit requirements for a special-purpose acquisition company target in Form S-4/F-4; described the substantial deficiency situation impact on certain rule and eligibility standards; included another example of a “To Be Issued” accountant’s report; and removed outdated references and updated for changes to GAAP, guidance issued by the PCAOB, Division of Corporation Finance, and SEC’s Office of Chief Accountant in the last few years.
Compliance and Disclosure Interpretations
- Securities Act Sections (UPDATED 11/13/20)
- Section 139. Securities Act Section 5
FAQs
No-Action, Interpretive and Exemptive Letters
- IMVU, Inc., November 19, 2020
- Certain Trust Preferred Securities, November 10, 2020
- Majesco Limited, November 2, 2020