DealLawyers.com Blog

The updates to the Schedule 13D/G CDIs for the 2023 rule amendments I blogged about earlier this week aren’t the only recent development coming out of Corp Fin that’s relevant to M&A practitioners.

– Back in March, I noted that the discussion on acquired company financial statements in the SEC’s Division of Corporation Finance’s Financial Reporting Manual hadn’t been updated since before the 2020 overhaul of the S-X acquired company financial statement rules. That’s no longer the case!

Just before the 4th of July holiday, Corp Fin posted an updated version of the FRM that now reflects the 2020 changes. A summary of the changes is available on the Financial Reporting Manual page of the SEC’s website. (Keep in mind that, as noted in this Goodwin blog, the changes don’t address the Qualifications of Accountants, Management’s Discussion and Analysis Selected Financial Data, and Supplementary Financial Information, and Special Purpose Acquisition Companies, Shell Companies, and Projections rulemakings.)

– And for folks who regularly reference the SEC’s Compliance & Disclosure Interpretations, check out this new page on the SEC’s website where Corp Fin has consolidated all of its CDIs in one place so, per this LinkedIn post, everyone now has the ability to search for potentially relevant guidance simply by clicking Ctrl + F.

To quote my colleague, Liz, “A dream come true!”

– Meredith Ervine