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Chapter 1 — Introduction to SEC Reporting Considerations for Business Acquisitions

1.5 Rule 3-13 Waivers and Other Requests

1.5 Rule 3-13 Waivers and Other Requests

There may be situations in which registrants wish to seek relief from complying with the various reporting requirements under Regulation S-X, including the omission of financial statements of an acquiree under Rule 3-05 or Rule 3-14 and related pro forma financial information. Regulation S-X, Rule 3-13, gives the SEC staff the authority to permit the omission or substitution of certain financial statements otherwise required under Regulation S-X “where consistent with the protection of investors.” Further, the SEC staff has historically encouraged registrants to seek modifications to their financial reporting requirements, as permitted under Rule 3-13, particularly when the requirements are burdensome but may not be material to the total mix of information available to investors.