SEC Revises Rules for Financial Statements Required for Acquisitions and Dispositions of Businesses and Real Estate

Client Alert
June 24, 2020

In May 2020, the Securities and Exchange Commission approved amendments to the requirements for financial statements relating to acquisitions and dispositions of businesses, including real estate operations, in Regulation S-X Rule 3-05, Financial statements of businesses acquired or to be acquired; Rule 3-14, Special instructions for real estate operations to be acquired; Article 11, Pro Forma Financial Information; and other related rules and forms. Companies are not required to apply the final amendments until the beginning of their fiscal year following December 31, 2020. However, voluntary compliance is permitted now as long as the amendments are complied with in their entirety.

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