United States

Q&A on the new public business entity definition

WHITE PAPER

January 2020

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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. 

Refer to our white paper for the answers to these and many more questions.

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