Securities and Exchange Commission (SEC), Regulation G, GAAP

SEC Considers Modification of Foreign Private Issuer Criteria: May Result in Fewer Foreign Companies Qualifying as FPIs

BCLP on 6/10/2025

On June 4, 2025, the SEC released a Concept Release seeking public comment on potential changes to the definition of foreign private issuer (“FPI”), which changes may have the effect of reducing the number of foreign...more

Non-GAAP Nonsense: SEC Charges DXC Technology with Misleading Non-GAAP Reporting and Deficient Disclosure Controls

Vinson & Elkins LLP on 3/29/2023

On March 14, 2023, the Securities and Exchange Commission (“SEC”) issued a cease-and-desist order (the “Order”)1 and charged DXC Technology Company (“DXC”), an IT company based in Virginia, with violations of Rule 100(b) of...more

Recent SEC Enforcement Actions Involving Accounting Misstatements and Non-GAAP Financial Measures

Mayer Brown Free Writings + Perspectives on 10/7/2020

In July 2020, a publicly traded pharmaceutical company entered into a settlement with the Securities and Exchange Commission, without admitting or denying findings, and agreed to pay a financial penalty relating to various...more

SEC Continues to Closely Monitor the Use of Non-GAAP Financial Measures

Stinson LLP on 10/18/2016

On May 17, 2016, the U.S. Securities and Exchange Commission (SEC) issued new Compliance and Disclosure Interpretations (C&DIs). The C&DIs provide added guidance on the use of non-GAAP financial measures in public disclosures...more

Practice Pointers on Non-GAAP Financial Measures

Morrison & Foerster LLP on 8/16/2016

On June 27, 2016, Securities and Exchange Commission (“SEC”) Chair Mary Jo White, speaking at the International Corporate Governance Network’s Annual Conference in San Francisco, reiterated the SEC’s growing concern regarding...more

SEC Staff Issues Revised Non-GAAP Financial Measures Interpretive Guidance

K&L Gates LLP on 7/8/2016

On May 17, 2016, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (the “SEC Staff”) revised existing interpretive guidance contained in its Compliance and Disclosure Interpretations relating...more

Re-evaluating Your Company’s Use and Presentation of Non-GAAP Financial Measures

Benesch on 6/20/2016

At a Glance: In May, the Securities and Exchange Commission (the “SEC”) added twelve new Compliance and Disclosure Interpretations (“C&DIs”) on the use of non-GAAP (“Generally Accepted Accounting Principles”) financial...more

SEC Guidance on Reg G: Q&A with Howard Berkenblit

Sullivan & Worcester on 6/7/2016

On May 17, 2016, the SEC issued new Compliance & Disclosure Interpretations related to Regulation G. The Podium discussed the new guidance on the reporting of non-GAAP financial measures with Sullivan & Worcester Partner...more

Non-GAAP Financial Disclosures – Redux

Foley Hoag LLP on 6/2/2016

Prefaced by public statements of SEC officials about improper use of non-GAAP financial measures, the Staff of the Division of Corporation Finance issued new and revised Compliance & Disclosure Interpretations (“C&DIs”) on...more

Applying the New SEC Staff Guidance on Non-GAAP Measures to Your Next Earnings Announcement

WilmerHale on 5/26/2016

On May 17, 2016, the SEC’s Division of Corporation Finance escalated the SEC’s efforts to curb perceived misuse of non-GAAP financial measures with the issuance of a revised set of Compliance and Disclosure Interpretations...more

SEC's Division of Corporation Finance Updates Non-GAAP Interpretations

BakerHostetler on 5/25/2016

In recent months, the Securities and Exchange Commission (the “SEC”) has signaled that the use of non-GAAP measures will be scrutinized closely. Chair Mary Jo White has discussed non-GAAP disclosures in speeches, urging...more

SEC Continues to Turn the Screw on Non-GAAP Financial Disclosures With Updates to Compliance & Disclosure Interpretations

Perkins Coie on 5/24/2016

Continuing the SEC’s recent focus on companies’ use of non-GAAP financial measures, the staff of the SEC Division of Corporation Finance issued updated guidance on May 17, 2016 that addresses compliance issues under...more

Securities and Exchange Commission (SEC) › Regulation G › Generally Accepted Accounting Procedures

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