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Financial Statements Subsidiaries

DLA Piper

Puerto Rico Supreme Court Issues Key RFP Ruling: Top Points for Companies

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Prudent entities responding to Requests for Proposals (RFPs) from the Government of Puerto Rico will exercise additional caution when determining how to demonstrate their economic fitness, after the Puerto Rico Supreme Court...more

Foley Hoag LLP

Product Liability Update - May 2020

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Foley Hoag LLP publishes this quarterly Update primarily concerning developments in product liability and related law from federal and state courts applicable to Massachusetts, but also featuring selected developments for New...more

Cadwalader, Wickersham & Taft LLP

SEC Adopts Amendments to Disclosure Requirements for Acquired and Disposed Businesses

On May 21, 2020, the Securities and Exchange Commission (the “SEC”) adopted amendments to its disclosure requirements for acquired and disposed businesses. ...more

Morrison & Foerster LLP

U.S. SEC Adopts Rule Amendments To Simplify Guarantor And Pledgor Financial Disclosures

The U.S. Securities and Exchange Commission (the “SEC”) recently adopted amendments to the financial disclosure requirements applicable to registered debt offerings that include certain credit enhancements. The amendments...more

A&O Shearman

SEC Eliminates Consolidating Financial Information for SEC-Registered Debt Securities with Subsidiary Issuers or Guarantors

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Amendments eliminate audited three-year guarantor financial statement footnote and separate financial statements of subsidiaries whose shares are pledged; replaced with unaudited combined summarized financial information for...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Adopts Amendments to Rules 3-10 and 3-16 of Regulation S-X in Certain Registered Debt Offerings

On March 2, 2020, the Securities and Exchange Commission (SEC) adopted amendments that reduce and simplify the financial disclosure requirements applicable to registered debt offerings for guarantors and issuers of guaranteed...more

King & Spalding

REIT Advisor – March 2020

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On March 2, 2020, the Securities and Exchange Commission (the “SEC”) released its final rule amending the financial disclosure requirements applicable to registered debt offerings that include credit enhancements, including...more

Dorsey & Whitney LLP

SEC Seeks to Encourage Registered Debt Offerings by Amending Financial Statement Requirements

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On March 2, the Securities and Exchange Commission adopted amendments to the financial disclosure requirements applicable to registered debt offerings that include credit enhancements, such as subsidiary guarantees. The final...more

Allen Matkins

Subsidiaries Domestic Or Foreign?

Allen Matkins on

Yesterday's post parsed the definition of "subsidiary" in Corporations Code Section 189. Because a subsidiary must be a corporation as defined in Section 162, a subsidiary cannot be a foreign corporation, as defined in...more

Vedder Price

SEC Proposes Amendments to Financial Reporting Rules for Business Combination Transactions Involving Investment Companies

Vedder Price on

On May 3, 2019, the SEC issued a proposal to amend certain rules and forms relating to required financial disclosures in business combination transactions involving investment companies. First, the proposal would...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Proposes to Ease Disclosures Required by Rules 3-10 and 3-16 of Regulation S-X in Certain Registered Debt Offerings

On July 24, 2018, the Securities and Exchange Commission (SEC) proposed rule amendments that would simplify the financial disclosure requirements applicable to registered debt offerings for guarantors and issuers of...more

Cooley LLP

Blog: SEC Commissioner Stein takes aim at proposal to amend Rules 3-10 and 3-16

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Even though the SEC did not have an open meeting to consider its new proposal to amend Rules 3-10 and 3-16 of Reg S-X, Commissioner Kara Stein decided nonetheless to release a public statement about the proposal. While she...more

Allen Matkins

The Case Of The Wholly Owned, But Not Totally Held, Subsidiary That May Or May Not Be 100% Owned

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When someone says that a subsidiary is “wholly owned”, I believe that the common understanding is that the parent company owns all of the issued and outstanding equity of the subsidiary. What if the statement is that the...more

Morgan Lewis

Singapore Exchange Amends Listing Rules Following Changes to the Companies Act

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The Singapore Exchange has introduced amendments to the Mainboard and Catalist listing rules—including in relation to the electronic transmission of documents to shareholders, exemptions for insurance coverage and indemnities...more

Skadden, Arps, Slate, Meagher & Flom LLP

Hong Kong Regulatory Update - December 2015

This Hong Kong regulatory update provides a brief overview of the principal Hong Kong regulatory developments in the preceding three months relevant to companies listed or proposed to be listed on The Stock Exchange of Hong...more

Cooley LLP

Blog: SEC Seeks Comment On Effectiveness Of Reg S-X Rules That Require Disclosure About Entities Other Than The Reporting Company

Cooley LLP on

The SEC is requesting comment on certain Reg S-X rules as part of its Disclosure Effectiveness Project. The request relates specifically to the financial disclosure requirements in Reg S-X that require public reporting...more

Morrison & Foerster LLP

CFTC Proposes Supplement to Aggregation Proposed Rules for Position Limits

On September 22, 2015, the Commodity Futures Trading Commission (“CFTC”) issued for public comment a supplement (the “Supplemental Aggregation Proposal”) to its proposed aggregation rules for position limits for related...more

Morgan Lewis

SEC Will No Longer Require an Acquired Entity to Use “Pushdown” Accounting upon a Change in Control

Morgan Lewis on

On November 18, the SEC’s Division of Corporation Finance and the Office of the Chief Accountant (the Staff) rescinded Topic 5.J. of the Staff Accounting Bulletin Series. Topic 5.J. required an SEC registrant that became...more

Proskauer Rose LLP

SEC Issues Guidance to BDCs Regarding Consolidated Financials

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On October 31, 2014, the Securities and Exchange Commission, through the Chief Accountant's Office of its Investment Management Division, issued a Guidance Update regarding whether wholly owned subsidiaries should be...more

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