Appendix F — Roadmap Updates for 2025
The table below summarizes the
substantive changes made in the 2025 edition of this Roadmap.
|
Section
|
Title
|
Description
|
|---|---|---|
|
Consolidated Subsidiary Condition
|
Added Example 2-3 to
illustrate an issuer and guarantor structure that is not
eligible under Rule 3-10 when the issuer is not a
consolidated subsidiary of the parent company. This example
was previously in Section
2.2.4. Subsequent examples were
renumbered.
| |
|
Basis of Presentation
|
Added “Receivables from other related
parties” and “Dividends declared and receivable from
nonguarantor subsidiaries”as line items in the illustrative
balance sheet example.
| |
|
Regulation A
|
Added description of a Regulation A
offering.
|