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Chapter 3 — SEC Disclosure Topics

3.2 SEC Reporting

3.2 SEC Reporting

SEC authoritative literature includes a number of requirements in Regulation S-X that govern the form and content of a registrant’s financial statements and other information that must be included in filings with the SEC, including financial statements and financial information of other entities. The SEC staff often comments on these requirements, and they have been the subject of discussion at a variety of forums, including the annual AICPA Conference, various industry conferences, and joint meetings of the SEC staff and the CAQ SEC Regulations Committee. However, there may be situations in which registrants seek relief from complying with certain SEC reporting requirements. With this in mind, the SEC staff has acknowledged that relief may be warranted in some cases and that registrants may seek to obtain a waiver from the SEC’s Division of Corporation Finance, Office of the Chief Accountant (CF-OCA). Such a waiver may be granted when the application of Regulation S-X results in a requirement to provide more information than what is necessary to reasonably inform investors in light of the total mix of information available. For additional guidance on Rule 3-13 waivers and prefiling letter requests, see Appendix B.