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Overview
Our publication discusses the FASB’s new guidance that incorporates several SEC disclosure requirements into US GAAP in response to a request from the SEC. For entities subject to the SEC requirements and those required to file or furnish financial statements in connection with the sale or issuance of securities without contractual restrictions on transfer, the guidance will be effective upon the removal of the related SEC requirement. Early adoption is not permitted for these entities. For all other entities, the effective date will be two years later, and early adoption is permitted.