SEC Seeks Comment on Regulation S-X

The SEC announced that it is seeking public comment on the effectiveness of financial disclosure requirements in Regulation S-X (which generally prescribes the requirements for financial reporting by SEC-registered issuers). The request for comment focuses on the requirements for the form and content of financial disclosures that companies must file with the SEC regarding acquired businesses, affiliated entities, and guarantors and issuers of guaranteed securities.

The request for comment is part of the Disclosure Effectiveness Initiative, which is a broad-based SEC review of the disclosure requirements and the presentation and delivery of the disclosures.

The public comment period will remain open for 60 days following publication of the comment request in the Federal Register.