On Friday (no, this is not about a
Rebecca Black or
Stephen Colbert/Jimmy Fallon song), the SEC's Division of Corporation Finance released a new document in its
"CF Disclosure Guidance" series:
CF Disclosure Guidance: Topic No. 4 - European Sovereign Debt Exposures.
As noted in the intro to the CF Disclosure Guidance documents: "The statements in this CF Disclosure Guidance represent the views of the Division of Corporation Finance. This guidance is not a rule, regulation or statement of the Securities and Exchange Commission. Further, the Commission has neither approved nor disapproved its content."
So, even though it's not a 'rule' but represent's the Corp Fin staff's views, would you want to mess with them? Props to
TheCorporateCounsel.net Blog's Broc Romanek, who noted this development yesterday in his post:
Corp Fin Issues MD&A Guidance on European Sovereign Debt Exposures.