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Legal Update

SEC Provides Guidance on Non-GAAP Financial Measures

24 May 2016
Mayer Brown Legal Update

It is no secret that use of non-GAAP financial measures, which are financial measures that are neither calculated nor presented in accordance with US generally accepted accounting principles (GAAP), has been on the radar of the US Securities and Exchange Commission (SEC) in recent months. On May 17, 2016, the SEC’s Division of Corporation Finance provided new guidance on the use of non-GAAP financial measures by issuing a dozen new and updated Compliance and Disclosure Interpretations (C&DIs) in this area. This Legal Update discusses these C&DIs and some of the practical considerations they raise for public companies.


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