What's New in the Division of Corporation Finance
January 2015

Accounting and Financial Reporting

• Division of Corporation Finance Financial Reporting Manual (UPDATED 01/12/15)
  Revisions to conform to issuance of Accounting Standards Update No. 2014-17, Business Combinations (Topic 805): Pushdown Accounting, a consensus of the FASB Emerging Issues Task Force and rescission of SAB Topic 5.J

Compliance and Disclosure Interpretations

• Securities Act Rules (UPDATED 01/23/2015)
  • Section 279. Rule 905 — Resale Limitations
    • New Question 279.01
• Regulation S-T (UPDATED 01/23/2015)
  • Section 118. Rule 304 — Graphic, Image, Audio and Video Material
    • New Question 118.01

No-Action, Interpretive and Exemptive Letters

• Oppenheimer & Co. Inc., January 27, 2015
  • See Commission Order available at: http://www.sec.gov/litigation/admin/2015/33-9711.pdf
     
• Medtronic, Inc., Medtronic Holdings Limited, and Covidien plc, January 23, 2015
   
• Abbreviated Tender or Exchange Offers for Non-Convertible Debt Securities, January 23, 2015
   
• Gilat Satellite Networks, Ltd., November 24, 2014