Meeting Highlights

SEC Regulations Committee Highlights – June 25, 2014

Wednesday, June 25, 2014

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The CAQ’s SEC Regulations Committee meets periodically with the staff of the Securities and Exchange Commission (SEC) to discuss emerging technical accounting and reporting issues relating to SEC rules and regulations. These highlights summarize the issues discussed at this meeting: Division of Corporation Finance personnel and organizational update; crowdfunding and Regulation A rule proposals; the Investor Advisory Committee; disclosure effectiveness; rulemaking for conflict minerals and extractive industry payments; the SEC’s Cybersecurity Roundtable; earnings per unit within Master Limited Partnerships (MLP); income statement presentation for Real Estate Investment Trusts (REIT) upon adoption of Accounting Standards Update (ASU) 2014-08, Reporting Discontinued Operations; complying with Regulation S-X Rule 3-12 in connection with a registration statement on Form 10 which becomes effective automatically; use of a “to-be-issued” audit report; and the impact of new revenue recognition standard on disclosures outside of the financial statements.