Our white paper, Q&A on the public business entity definition, provides background information about the definition of a public business entity and answers commonly asked questions about the application of that definition in practice. For example, questions addressed in our white paper include the following:
- Is a private company that is a consolidated subsidiary of a public company considered a public business entity for purposes of its own standalone financial statements?
- Is a private company that controls a public subsidiary considered a public business entity?
- Does a call report filed with federal financial institution regulators result in a bank being considered a public business entity?
- Do banks with over $500 million in assets that are required to file annual audited financial statements with the Federal Deposit Insurance Corp. meet the definition of a public business entity?
Also included are questions that address specific concepts within the definition of a public business entity, such as what is considered making financial statements publicly available and what are contractual restrictions on transfer of a security.