The Upside And (Possible) Downside Of IPO Filing Flexibility
Law360, New York (August 28, 2017, 1:30 PM EDT) -- The new chairman of the U.S. Securities and Exchange Commission, Jay Clayton, has expressed a keen policy interest in making it more attractive to become, and to be, a public company. In furtherance of that goal, the Division of Corporation Finance has recently published guidance that allows companies filing initial registrations under both the Securities Act of 1933 and the Securities Exchange Act of 1934 to submit filings confidentially and to omit from the initial filing financial statements that they do not expect to be required at the time the registration statement is publicly filed. The guidance also allows confidential submissions...
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