What's New in the Division of Corporation Finance
April 2012

CF Disclosure Guidance Topics

• Topic No. 5: Staff Observations Regarding Disclosures of Smaller Financial Institutions

Accounting and Financial Reporting

• Division of Corporation Finance Financial Reporting Manual (UPDATED 4/13/12)
  Updated for issues related to scaled disclosure for smaller reporting companies, filing requirements for reverse acquisitions, the treatment of related businesses in significance testing, revisions pursuant to ASU 2011-12, as well as other changes.

Division Announcements

• Republication of Commission Orders Revoking Exchange Act Registration and Stop Orders Under the Securities Act on EDGAR, April 17, 2012

Disclosure Guidance

• Sample Letter Sent to Financial Institutions Regarding Their Structured Note Offerings Disclosure in Their Prospectus Supplements and Exchange Act Reports, April 13, 2012

Jumpstart Our Business Startups Act

• Frequently Asked Questions of General Applicability on Title I of the JOBS Act, April 16, 2012
   
• Frequently Asked Questions on Changes to the Requirements for Exchange Act Registration and Deregistration, April 11, 2012
   
• Frequently Asked Questions on Confidential Submission Process for Emerging Growth Companies, April 10, 2012

Division Announcements

• Division announcement regarding confidential submission of draft registration statements under the Jumpstart Our Business Startups Act, April 5, 2012
   

No-Action, Interpretive and Exemptive Letters

• American Realty Capital Global Daily Net Asset Value Trust, Inc., April 18, 2012
   
• Alexander & Baldwin, Inc., April 3, 2012