2018-2019 Review: Division of Investment Management, Accounting and Disclosure Information Publications

January 01, 2020

In 2018, the staff (Staff) of the Division of Investment Management (IM Division) of the US Securities and Exchange Commission (Commission or SEC) began publishing informal guidance and interpretations regarding accounting and disclosure-related matters in the form of Accounting and Disclosure Information updates (ADIs). The Disclosure Review and Accounting Office (DRAO), the office within the IM Division responsible for preparing the ADIs, intends that the ADIs will “be an aid to practitioners and others who are interested in the law and interpretations concerning disclosure” and assist registrants in preparing SEC filings. Overall, the ADIs clarify and offer insight into the Staff’s views regarding various requirements relating to certain discrete accounting and disclosure matters, including topics on which the Staff has received inquiries from the investment management industry.

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