Regulatory Alerts2005-10-15
Added
Guidelines on Disclosure of Financial Information in Prospectuses
The Monetary Authority of Singapore issues these guidelines to clarify regulatory requirements for disclosing audited, pro forma, and interim financial information in prospectuses under the Securities and Futures Act. The document mandates specific presentation standards for tabular data, outlines conditions for using non-prescribed accounting standards, and defines the scope of auditor reviews for interim statements. It further establishes detailed rules for trend discussions and profit forecasts, including requirements for expert opinions and restrictions on language that could constitute implicit forecasts.
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