SEC Proposes New Rules On Short-Term Debt Disclosure

Law360, New York (September 17, 2010, 6:19 PM EDT) -- The U.S. Securities and Exchange Commission voted 5-0 on Friday to propose new rules that would give investors more complete information on companies' short-term borrowing in order to thwart attempts to make quarterly balance sheets seem rosier than they are right before reporting dates.

If adopted, the proposal would require all public companies to cough up more information about their short-term borrowing practices in the “management's discussion and analysis of financial condition and results of operations” section of their quarterly and annual reports.

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