SEC Staff Issues Additional Guidance on COVID-19 Disclosure
On June 23rd, the staff of the SEC’s Division of Corporation Finance issued new Disclosure Guidance Topic No. 9A reflecting the staff’s current views regarding disclosure that companies should consider in light of disruptions related to COVID-19. The new guidance supplements the previous guidance issued by the staff in March and specifically addresses disclosure as it relates to operations, liquidity, and capital resources. The staff issued the guidance on the same day that the SEC’s Office of the Chief Accountant issued a statement on the continued importance of “high-quality” financial reporting in light of COVID-19.
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