Regulation S-K is generally focused on qualitative descriptions while the related Regulation S-X focuses on financial statements.
What does Regulation SX apply to?
Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports and financial statements from companies.
What is an SK report?
Regulation S-K is a Securities and Exchange Commission (SEC) regulation that outlines how registrants should disclose material qualitative descriptors of their business on registration statements, periodic reports, and any other filings.
What is Regulation S-X Article 11?
This Topic describes the circumstances in which pro forma financial statements should be presented in filings, the form of their presentation, and guidance to be considered in their preparation.
What is a significant subsidiary under Reg SX?
Under Rule 1-02(w) of Regulation S-X, a “significant subsidiary” is one that meets one of three tests which are generally referred to as the Investment Test, the Income Test and the Asset Test. If an acquisition is significant, certain historical financial statements of the acquired business are required.
Who does Regulation S-X apply to?
Investment companies, mainly mutual funds, with any interstate presence and above a certain size, must register with the SEC under The Investment Company Act of 1940. Investment companies are considered to be an industry with special reporting requirements, outlined in Rules 6-01 to 6-10.
Does Regulation S-K apply to private companies?
Regulation S-K does not apply to foreign private issuers unless a form reserved for foreign private issuers (such as Securities Act Form F-1, F-3, or F-4) specifically refers to Regulation S-K.
What is Item 302 of Regulation S-K?
Current Item 302(a) of Regulation S-K requires certain companies to disclose (i) selected financial data for each quarter of the last two completed fiscal years and any subsequent interim period, and (ii) variances of those results from amounts previously reported on Form 10-Q.
What is Rule 2 01 Regulation S-X?
Current Rule 2-01 broadly defines the term “audit client” to include not only the entity whose financial statements are being audited (i.e., the entity under audit) but also its parents, subsidiaries and any affiliates under common control with the audit client (i.e., sister entities).
Which article of Regulation S-X contains the specific disclosure requirements?
Article 11 of Regulation S-X, which requires registrants to file unaudited pro forma financial information showing how the acquisition or disposition might have affected the registrant’s financial statements, was also amended to update the pro forma financial information requirement.
What is Rule 3 05 Regulation S-X?
Under Rule 3-05 of Regulation S-X, a registrant that acquires a significant business, other than a real estate operation, is generally required to provide separate audited annual and unaudited interim pre-acquisition financial statements of the business (“Rule 3-05 Financial Statements”).
Does Regulation S-X apply to foreign private issuers?
Regulation S-X provides that any foreign private issuer may file financial statements whose age is specified in Item 8. A of Form 20-F (Rule 3-12(f) of Regulation S-X).
Who does the prospectus regulation apply to?
The Prospectus Regulation applies to persons: Seeking admission of securities to trading on an EEA regulated market, including the Irish Stock Exchange plc, trading as Euronext Dublin or. Making an offer of securities to the public within the EEA, albeit not seeking admission to trading on an EEA regulated market.
Which article of Regulation S-X contains the specific disclosure requirements?
Article 11 of Regulation S-X, which requires registrants to file unaudited pro forma financial information showing how the acquisition or disposition might have affected the registrant’s financial statements, was also amended to update the pro forma financial information requirement.
What is Rule 3 05 Regulation S-X?
Under Rule 3-05 of Regulation S-X, a registrant that acquires a significant business, other than a real estate operation, is generally required to provide separate audited annual and unaudited interim pre-acquisition financial statements of the business (“Rule 3-05 Financial Statements”).
What is a Rule 145 transaction?
Rule 145 is an SEC rule that allows companies to sell certain securities without first having to register the securities with the SEC. This specifically refers to stocks that an investor has received because of a merger, acquisition, or reclassification.
What is Rule 605 Regulation NMS?
SEC Rule 11Ac1-5 Redesignated as Rule 605 of Reg NMS:
New SEC Rule 605 (formerly 11Ac1-5) requires FINRA to make available certain order execution information, facilitating the uniform public disclosure of order execution information by all market centers.