This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

SEC proposes rule on disclosures related to certain registered debt offerings

  • SEC document Image

Jul 25, 2018

The SEC has issued a proposed rule, “Financial Disclosures About Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities,” which would amend certain disclosure requirements in Regulation S-X, Rules 3-10 and 3-16.

Among other amendments, the proposal would:

  • Continue to permit “the omission of separate financial statements of subsidiary issuers and guarantors when certain conditions are met and the parent company provides supplemental financial and non-financial disclosure about the subsidiary issuers and/or guarantors and the guarantees.”
  • Replace “condensed consolidating financial information, as specified in existing Rule 3-10, with certain proposed financial and non-financial disclosures.”
  • Allow certain disclosures “to be provided outside the footnotes to the parent company’s audited annual and unaudited interim consolidated financial statements.”

Com­ments on the proposed rule are due 60 days after the date of its pub­li­ca­tion in the Federal Reg­is­ter. For more in­for­ma­tion, see the press release and pro­posed rule on the SEC’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.