Guidance Update No.2013-07 - Business Development Companies-Separate Financial Statements Or Summarized Financial Information Of Certain Subsidiaries - Us Securities And Exchange Commission Page 2

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i m G u i D a n C e u p D a t e
2
object if the BDC presents summarized financial information in the notes to the financial
statements only for each unconsolidated subsidiary which individually meets the defini-
tion of a “significant subsidiary” in Rule 1-02(w) but does not present summarized finan-
cial information in the notes to the financial statements for all unconsolidated subsidiaries.
If a BDC believes the application of Rule 3-09 or Rule 4-08(g) results in the presentation
of either financial statements or summarized financial information of an unconsolidated
subsidiary that is not necessary to reasonably inform investors, the BDC should contact
the Division’s Chief Accountant’s Office at 202-551-6918 or imoca@sec.gov.
BDCs are also encouraged to contact the Division’s Chief Accountant’s Office with
any other questions or concerns about the application of these requirements to their
particular situations.
endnotes
1
Instruction 1.a to Item 8.6.c of Form N-2.
2
Regulation S-X Rule 6-03.
This IM Guidance Update summarizes the views of the Division of Investment Management
regarding various requirements of the federal securities laws. Future changes in laws or
regulations may supersede some of the discussion or issues raised herein. This IM Guidance
Update is not a rule, regulation or statement of the Commission, and the Commission has
neither approved nor disapproved of this IM Guidance Update.
The Investment Management Division works to:
protect investors
s
promote informed investment decisions and
s
facilitate appropriate innovation in investment products and services
s
through regulating the asset management industry.
if you have any questions about this im Guidance update, please contact:
Chief Accountant’s Office
Phone:
202.551.6918
Email:
IMOCA@sec.gov

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