Meeting Highlights

SEC Regulations Committee Highlights – March 21, 2014

Friday, March 21, 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: the Division of Corporation Finance personnel and organizational update; Financial Reporting Manual (FRM) updates; definition of a Public Business Entity (PBE); sustainability disclosures; crowdfunding and Regulation A rule proposals; disclosure effectiveness; rulemaking for conflict minerals and extractive industry payments; Division of Enforcement update; dividends per share on the face of the annual income statement; due dates for lessee/tenant financial statements to be included in Form 10-K when the registrant has triple net leased one or more properties to a single lessee/tenant and such properties represent a significant portion of the registrant’s assets; pro forma condensed income statement presentation of the comparative interim period; retrospective revision of previously issued annual financial statements in connection with an abbreviated registration statement filed pursuant to Securities Act Rule 462(b); application of Regulation S-X Rule 4-08(g) when separate financial statements of a significant investee are provided and remaining investees, in the aggregate, are less than 10 percent significant; and individually insignificant real estate acquisitions made during the year.