At last week's open meeting, the Securities and Exchange Commission originally had been scheduled to consider a proposed amendment to Regulation S-X Rules 3-10 and 3-16, as we had previously blogged. The agenda for the open meeting was amended shortly prior to the meeting to remove consideration of the Regulation S-X rule changes that originally had been considered in 2015.
Yesterday, the Commission voted to propose amendments. The amendments would affect disclosures relating to guarantors and affiliates the securities of which are pledged as collateral.
The link to the press release is here.
The link to the proposed rules is here.
A client alert will follow in short order.
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