SEC Issues New Guidance on Non-GAAP Financial Measures

May 25, 2016

On May 17, 2016, the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (the “SEC”) issued new and updated Compliance and Disclosure Interpretations (“C&DIs”) of the rules and regulations on the use of non-GAAP financial measures. These revisions mark the Division’s most significant changes to such C&DIs since January 2010, echoing recent public statements from senior SEC officials and suggesting a renewed focus on the use and presentation of non-GAAP financial information by public companies.

CGR Memo - SEC Issues New Guidance on Non-GAAP Financial Measures