SEC Staff Guidance on Disclosures and Financial Reporting in Light of COVID-19

On June 23, 2020, the Division of Corporation Finance (Division) of the US Securities and Exchange Commission (SEC) issued CF Disclosure Guidance: Topic No. 9A (CF 9A), providing guidance on operations, liquidity, and capital resources disclosures that companies should consider with respect to COVID-19-related disruptions. On that same date, the SEC’s Office of the Chief Accountant (OCA) issued a Statement on the Continued Importance of High-Quality Financial Reporting for Investors in Light of COVID-19 (Statement). This Legal Update discusses the latest set of SEC staff guidance on disclosures and financial reporting in the wake of COVID-19.