SEC's Policy Tweak On Confidential IPOs Benefits Issuers

Law360, New York (August 21, 2017, 9:56 PM EDT) -- The Securities and Exchange Commission's recently revised guidance freeing confidential filers of initial public offerings from submitting potentially outdated interim financial statements shows the agency is moving incrementally toward becoming more flexible in accommodating the cost concerns of issuers, experts say.

The move itself, which centers on what financial information is provided to the SEC during the confidential phase of an IPO process compared with what is ultimately revealed to public investors, is technical on the surface and not expected by experts to trigger a big uptick in IPOs.

But several dealmakers welcomed the SEC's action on grounds that the agency...

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