SEC Division of Corporation Finance Acting Chair John Coates and SEC Acting Chief Accountant Paul Munter highlighted potential errors in accounting for warrants issued by Special Purpose Acquisition Companies.
The SEC published in the Federal Register an interim final rule amending Forms 20-F, 40-F, 10-K and N-CSR for registrants required to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
The SEC Division of Corporation Finance staff issued guidance on accounting, financial reporting and governance issues that private operating companies should consider prior to undertaking a "business combination" with a special purpose acquisition company.
The SEC adopted interim final amendments to certain annual reporting forms. The amendments apply to registrants that have to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
The former CEO and chief financial officer of a Flexible Spending Account services company settled SEC charges for making material misstatements and omissions that resulted in the company's improper recognition of revenue.
In a "Dear CFO Letter," SEC Division of Investment Management Chief Accountant Alison Staloch highlighted staff guidance on "certain accounting, auditing, financial reporting, or other related disclosure matters."