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Capital Markets

December 19 2017
Ryan Castillo Don't be afraid to ask – SEC staff ready to respond to Rule 3-13 waiver requests from registrants

USA - Morrison & Foerster LLP

Rule 3-13 of Regulation S-X allows the Securities and Exchange Commission (SEC) to permit the omission of financial statements otherwise required by the SEC rules or their substitution by financial statements of a comparable character. The chief accountant of the SEC Division of Corporation Finance has now reminded registrants that the SEC is willing to consider and process Rule 3-13 waiver requests. Under a pilot programme, SEC staff should respond within five days.

Author: Ryan Castillo
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