Preface
We are pleased to present the 2025
edition of SEC Reporting Considerations for Guarantees and
Collateralizations. This Roadmap is intended to help readers navigate some of
the questions that may arise in the application of the disclosure requirements
related to certain registered securities under SEC Regulation S-X, Rules 3-10, 3-16,
13-01, and 13-02.1
Appendix F discusses
significant changes made since the issuance of the 2024 edition of this
publication.
The Roadmap addresses the SEC’s
reporting requirements for registrants that issue securities that are guaranteed or
collateralized by one or more affiliates while providing Deloitte’s interpretations
and examples in a comprehensive, reader-friendly format. It has been developed for
readers who are familiar with the reporting requirements as well as readers who may
be working through the reporting requirements for guaranteed or collateralized
securities for the first time. That is, this publication may function as either a
quick resource for those who have specific questions or an all-encompassing guide
for those who are building up their knowledge base.
Be sure to
check out On the Radar
(also available as a stand-alone
publication), which briefly summarizes
emerging issues and trends related to the accounting and
financial reporting topics addressed in the Roadmap.
We encourage you to use this Roadmap
as a guide throughout your application of the disclosure requirements for guaranteed
or collateralized securities. However, the Roadmap is not a substitute for
consultation with Deloitte professionals on complex transactions and SEC reporting
matters.
We hope you find this publication to
be a valuable resource. Please contact us with any questions or suggestions for
future improvements.
Footnotes
1
On March 2, 2020, the SEC issued a final rule that revised the disclosure
requirements for certain registered securities under Regulation S-X,
Rules 3-10
and 3-16, and
introduced Regulation S-X, Rules 13-01 and 13-02. For a list of the abbreviations
used in this publication, see Appendix
E. For the full titles of standards, topics, and regulations
used in this publication, see Appendix
D.