U.S. Securities Law Briefing: SEC Proposes Easing Financial Disclosure Requirements for Offerings of Guaranteed Securities
The U.S. Securities and Exchange Commission (the “SEC”) recently proposed amendments that would ease the financial disclosure requirements in Rules 3-10 and 3-16 of Regulation S-X.
Rule 3-10 sets out financial disclosure requirements for guarantors and issuers of guaranteed securities registered or being registered with the SEC, and Rule 3-16 covers financial disclosure requirements for affiliates whose securities collateralize securities registered or being registered. The proposed changes would amend both Rules 3-10 and 3-16 and create a new Article 13 in Regulation S-X.
Comments are due within 60 days of publication of the proposed amendments in the Federal Register.Read the full U.S. Securities Law Briefing here.