SEC streamlines debt securities disclosure framework

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In depth , PwC US Mar 10, 2020

The SEC has made significant changes to its disclosure requirements relating to certain debt securities intended to ease the cost and burden of compliance.

On March 2, the SEC made significant changes to its disclosure requirements relating to certain debt securities. The new rules impact disclosures related to registered securities that are guaranteed and those that are collateralized by the securities of an affiliate. The rules become effective January 4, 2021, with voluntary compliance permitted immediately.

The changes include:

  • expanding the population of subsidiary issuers and guarantors that can use the SEC’s guarantee-related disclosure framework;
  • simplifying and focusing the disclosure models; and
  • permitting the disclosures to be made outside of the financial statements.

For a deeper discussion, please contact:

John May

SEC Services Leader, National Professional Services Group, PwC US

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Diane Howell

Partner, National Professional Services Group, PwC US

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Seth Owens

Director, National Professional Services Group, PwC US

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David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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