On March 23, 2023, The Financial Accounting Standards Board (“FASB”) issued proposed updates to the U.S. Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy related to a Proposed Accounting Standards Update (“ASU”) on Intangibles—Goodwill and Other—Crypto Assets. (1) The proposed updates would create Subtopic 350-60 of U.S. GAAP, and it…

The SEC’s Division of Examinations (the “DOE”) has announced its 2023 examination priorities. The annual report provides insights into the Division’s risk-based approach, including the areas it believes present potential risks to investors and the integrity of U.S. capital markets. Valuation was discussed in the following sections: Investment Company Act…

The SEC recently proposed new rules and amendments intended to enhance investor protections in initial public offerings by special purpose acquisition companies (“SPACs”) and in subsequent business combination transactions between SPACs and private operating companies. If adopted, the rules would impact SPACs in a variety of important ways. Below we…