Preface
We are pleased to present the 2023
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 The 2023 edition reflects updated guidance in the SEC’s Financial Reporting
Manual.2
Appendix F discusses significant changes made
since the issuance of the 2022 edition of this publication.
The Roadmap combines the SEC’s
reporting requirements for registrants that issue securities that are guaranteed or
collateralized by one or more affiliates with 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.
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 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. This Roadmap reflects the
updated requirements.
2
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.