SEC Adopts Extensive Revisions to Rules Governing Financial Information of Acquired and Disposed Businesses

June 2020

The US Securities and Exchange Commission on May 20, 2020 adopted a series of amendments to its rules and forms relating to disclosure requirements for financial statements relating to acquisitions and dispositions of businesses. The changes are intended to improve for investors the financial information about acquired or disposed businesses, facilitate more timely access to capital, and reduce the complexity and costs to prepare the disclosure.

The new rules will be effective January 1, 2021. Registrants may elect to comply with the amendments in advance of the effective date, but may not pick and choose among the amended rules and forms; if a registrant opts for early compliance, it must comply with all of the amendments in their entirety from the initial instance of early compliance.

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