SEC Proposes Changes to Disclosures on Acquisition and Disposals

摘要

The SEC has proposed rule changes designed to provide investors greater information about acquired and disposed businesses while at the same time reducing the cost and complexity businesses face in preparing disclosures. Currently, Rule 3-05 of Regulation S-X requires SEC registrants that acquire a significant non-real estate business to provide separate pre-acquisition financial statements that are audited annual and unaudited interim statements of that business. Article 11 of Regulation S-X requires registrants to file unaudited pro forma financial information relating to the acquisition or disposal of a business. This information typically includes a pro forma balance sheet and pro forma income statements based on historical financial statements and includes adjustments that show how the transaction might have affected both companies' financial statements.