Commission Rules and Forms Related to the FASB's Accounting Standards Codification, 50117-50123 [2011-20413]

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Download as PDF Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations develop in the collector tank level float switch wiring. Such a short circuit may result in an ignition source in the tank vapour space. This condition, if not corrected, could result in a wing fuel tank explosion and consequent loss of the aeroplane. * * * * * Compliance (f) You are responsible for having the actions required by this AD performed within the compliance times specified, unless the actions have already been done. Actions (g) Within 24 months after the effective date of this AD, install fuses packed in jiffy junctions [i.e., crimped wire in-line junction device], in accordance with the Accomplishment Instructions of Fokker Service Bulletin SBF28–28–049, dated June 23, 2010, including Fokker Drawing W57273, Sheet 002, Issue C, dated June 23, 2010, Fokker Drawing W58048, Sheet 1, dated April 29, 2010, and Fokker Manual Change Notification MCNM–F28–035, dated June 23, 2010. Maintenance Program Revision (h) Before further flight after doing the modification required in paragraph (g) of this AD: Revise the maintenance program by incorporating the CDCCL specified in paragraph 1.L.(1)(c) of Fokker Service Bulletin SBF28–28–049, dated June 23, 2010, including Fokker Drawing W57273, Sheet 002, Issue C, dated June 23, 2010, Fokker Drawing W58048, Sheet 1, dated April 29, 2010, and Fokker Manual Change Notification MCNM–F28–035, dated June 23, 2010. No Alternative Critical Design Configuration Control Limitations (CDCCLs) (i) After accomplishing the revision required by paragraph (h) of this AD, no alternative CDCCLs may be used unless the CDCCLs are approved as an alternative method of compliance (AMOC) in accordance with the procedures specified in paragraph (j) of this AD. FAA AD Differences erowe on DSK5CLS3C1PROD with RULES Note 2: This AD differs from the MCAI and/or service information as follows: Although European Aviation Safety Agency (EASA) Airworthiness Directive 2010–0194, dated September 29, 2010, specifies both revising the maintenance program to include limitations, and maintaining CDCCLs, this AD only requires the revision. Requiring a revision of the maintenance program, rather than requiring maintaining CDCCLs, requires operators to record AD compliance only at the time the revision is made. Maintaining CDCCLs specified in the airworthiness limitations must be complied with in accordance with 14 CFR 91.403(c). Other FAA AD Provisions (j) The following provisions also apply to this AD: (1) Alternative Methods of Compliance (AMOCs): The Manager, International Branch, ANM–116, Transport Airplane VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 Directorate, FAA, has the authority to approve AMOCs for this AD, if requested using the procedures found in 14 CFR 39.19. In accordance with 14 CFR 39.19, send your request to your principal inspector or local Flight Standards District Office, as appropriate. If sending information directly to the International Branch, send it to Attn: Tom Rodriguez, Aerospace Engineer, International Branch, ANM–116, Transport Airplane Directorate, FAA, 1601 Lind Avenue, SW., Renton, Washington 98057– 3356; telephone (425) 227–1137; fax (425) 227–1149. Information may be e-mailed to: 9-ANM-116-AMOC-REQUESTS@faa.gov. Before using any approved AMOC, notify your appropriate principal inspector, or lacking a principal inspector, the manager of the local flight standards district office/ certificate holding district office. The AMOC approval letter must specifically reference this AD. (2) Airworthy Product: For any requirement in this AD to obtain corrective actions from a manufacturer or other source, use these actions if they are FAA-approved. Corrective actions are considered FAA-approved if they are approved by the State of Design Authority (or their delegated agent). You are required to assure the product is airworthy before it is returned to service. Related Information (k) Refer to MCAI EASA Airworthiness Directive 2010–0194, dated September 29, 2010; and Fokker Service Bulletin SBF28– 28–049, dated June 23, 2010, including Fokker Drawing W57273, Sheet 002, Issue C, dated June 23, 2010, Fokker Drawing W58048, Sheet 1, dated April 29, 2010, and Fokker Manual Change Notification MCNM– F28–035, dated June 23, 2010; for related information. Material Incorporated by Reference (l) You must use Fokker Service Bulletin SBF28–28–049, dated June 23, 2010, including Fokker Drawing W57273, Sheet 002, Issue C, dated June 23, 2010, Fokker Drawing W58048, Sheet 1, dated April 29, 2010, and Fokker Manual Change Notification MCNM–F28–035, dated June 23, 2010, to do the actions required by this AD, unless the AD specifies otherwise. (1) The Director of the Federal Register approved the incorporation by reference of this service information under 5 U.S.C. 552(a) and 1 CFR part 51. (2) For service information identified in this AD, contact Fokker Services B.V., Technical Services Dept., P.O. Box 231, 2150 AE Nieuw-Vennep, the Netherlands; telephone +31 (0)252–627–350; fax +31 (0)252–627–211; e-mail technicalservices.fokkerservices@stork.com; Internet http://www.myfokkerfleet.com. (3) You may review copies of the service information at the FAA, Transport Airplane Directorate, 1601 Lind Avenue, SW., Renton, Washington. For information on the availability of this material at the FAA, call 425–227–1221. (4) You may also review copies of the service information that is incorporated by reference at the National Archives and Records Administration (NARA). For PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 50117 information on the availability of this material at NARA, call 202–741–6030, or go to: http://www.archives.gov/federal_register/ code_of_federal_regulations/ ibr_locations.html. Issued in Renton, Washington, on July 29, 2011. Ali Bahrami, Manager, Transport Airplane Directorate, Aircraft Certification Service. [FR Doc. 2011–20168 Filed 8–11–11; 8:45 am] BILLING CODE 4910–13–P SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 210, 229, 230, 239, 240, 249, 270, and 274 [Release Nos. 33–9250; 34–65052; IC– 29748] Commission Rules and Forms Related to the FASB’s Accounting Standards Codification Securities and Exchange Commission. ACTION: Final rule; technical amendments. AGENCY: The Securities and Exchange Commission (‘‘Commission’’) is adopting technical amendments to various rules and forms under the Securities Act of 1933, the Securities Exchange Act of 1934, and the Investment Company Act of 1940. These revisions are necessary to conform those rules and forms to the FASB Accounting Standards CodificationTM (‘‘FASB Codification’’).1 The technical amendments include revision of certain rules in Regulation S–X, certain items in Regulation S–K, and various rules and forms prescribed under the Securities Act, Exchange Act and Investment Company Act. DATES: Effective Date: August 12, 2011. FOR FURTHER INFORMATION CONTACT: Jenifer Minke-Girard, Senior Associate Chief Accountant, or Annemarie Ettinger, Senior Special Counsel, at (202) 551–5300, Office of the Chief Accountant, or Angela Crane, Associate Chief Accountant, at (202) 551–3400, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. SUMMARY: We are adopting technical amendments to each of the following provisions of SUPPLEMENTARY INFORMATION: 1 ‘‘FASB Accounting Standards Codification’’ is a registered trademark of the Financial Accounting Foundation. E:\FR\FM\12AUR1.SGM 12AUR1 50118 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations Regulation S–X,2 Regulation S–K,3 and the rules and forms under the Securities Act of 1933 4 (the ‘‘Securities Act’’), the Securities Exchange Act of 1934 5 (the ‘‘Exchange Act’’), and the Investment Company Act of 1940 6 (the ‘‘Investment Company Act’’): • Rules 1–02, 4–01, 4–08, 4–10, and 10–01 of Regulation S–X.7 • Items 101, 201, 302, 303, 305, 402, 503, 601, and 1204 of Regulation S–K.8 • Securities Act Rule 175.9 • Securities Act Forms S–4 and 1– A.10 • Exchange Act Rules 3b–6 and 17h– 1T.11 • Exchange Act Forms 20–F, 40–F, 8– K, and 17–H.12 • Investment Company Act Rule 3a– 8.13 • Investment Company Act Forms N– 1A, N–3, N–4, and N–6.14 I. Background Section 108 of the Sarbanes-Oxley Act of 2002 15 (the ‘‘Sarbanes-Oxley Act’’) amended Section 19(b) of the Securities Act 16 to provide that the Commission may recognize, as generally accepted for purposes of the securities laws, any accounting principles established by a standard-setting body that meets specified criteria. On April 25, 2003, the Commission issued a policy statement concluding that the Financial Accounting Standards Board (‘‘FASB’’) and its parent organization, the Financial Accounting Foundation, satisfied the criteria for an accounting standard-setting body under the 2 17 CFR 210. CFR 229. 4 15 U.S.C. 77a et seq. Additionally, the Commission has authorized the staff to issue technical amendments to Industry Guides 3 and 7 to conform the guides to the FASB Codification. The Industry Guides serve as expressions of the policies and practices of the Division of Corporation Finance. They are of assistance to issuers, their counsel, and others preparing registration statements and reports, as well as to the Commission’s staff. The Industry Guides are not rules, regulations, or statements of the Commission. The Commission has neither approved nor disapproved these interpretations. See Release No. 33–6384 (Mar. 16, 1982) [47 FR 11476]. 5 15 U.S.C. 78a et seq. 6 15 U.S.C. 80a–1 et seq. 7 17 CFR 210.1–02, 210.4–01, 210.4–08, 210.4–10, and 210.10–01. 8 17 CFR 229.101, 229.201, 229.302, 229.303, 229.305, 229.402, 229.601, and 229.1204. 9 17 CFR 230.175. 10 17 CFR 239.25 and 239.90. 11 17 CFR 240.3b–6 and 240.17h–1T. 12 17 CFR 249.220f, 249.240f, 249.308, and 249.328T. 13 17 CFR 270.3a–8. 14 17 CFR 239.15A and 274.11A; 17 CFR 239.17a and 274.11b; 17 CFR 239.17b and 274.11c; and 17 CFR 239.17c and 274.11d. 15 15 U.S.C. 7201 et seq. 16 15 U.S.C. 77s(b). erowe on DSK5CLS3C1PROD with RULES 3 17 VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 Sarbanes-Oxley Act, and recognizing the FASB’s financial accounting and reporting standards as ‘‘generally accepted’’ for purposes of the Federal securities laws.17 On June 30, 2009, the FASB issued FASB Statement of Financial Accounting Standards No. 168, The FASB Accounting Standards CodificationTM and the Hierarchy of Generally Accepted Accounting Principles—a replacement of FASB Statement No. 162 (‘‘Statement No. 168’’), to establish the FASB Codification as the source of authoritative non-Commission accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with U.S. generally accepted accounting principles (‘‘U.S. GAAP’’). Statement No. 168 became effective for financial statements issued for interim and annual periods ending after September 15, 2009. The FASB Codification reorganizes existing U.S. accounting and reporting standards issued by the FASB and other related private-sector standard setters. All guidance contained in the FASB Codification carries an equal level of authority.18 The FASB Codification affects those Commission rules, regulations, releases, and staff bulletins (collectively referred to in this release as ‘‘Commission rules and staff guidance’’) that refer to specific FASB standards or other private sector standard-setter literature under U.S. GAAP, because such references are now superseded by the FASB Codification. As is discussed further below, on August 18, 2009, the Commission issued interpretive guidance 19 to avoid confusion on the part of issuers, auditors, investors, and other users of financial statements about the use of U.S. GAAP references in Commission rules and staff guidance. II. Discussion Many parts of Commission rules and staff guidance include direct references to specific standards under U.S. GAAP. For example, Regulation S–X—which, together with the Commission’s Financial Reporting Releases, sets forth the form and content of and requirements for financial statements required to be filed with the 17 See Commission Statement of Policy Reaffirming the Status of the FASB as a Designated Private-Sector Standard Setter, Release No. 33–8221 (April 25, 2003) [68 FR 23333]. 18 The FASB Codification is available at http:// asc.fasb.org/home. 19 Release No. 33–9062A (Aug. 18, 2009) [74 FR 42772]. PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 Commission 20—includes references to specific standards under U.S. GAAP.21 In addition, some parts of Commission rules and staff guidance outside of the financial statement context include references to specific standards under U.S. GAAP, such as in Item 402 of Regulation S–K regarding disclosure of executive compensation.22 In its August 18, 2009 interpretive release, the Commission noted that given the possible confusion between Commission rules and staff guidance, on the one hand, and the FASB’s Codification, on the other hand, effective immediately, references in Commission rules and staff guidance to specific standards under U.S. GAAP should be understood to mean the corresponding reference in the FASB Codification. In the August 18, 2009 release, the Commission stated that it intended to embark on a longer term rulemaking and updating initiative to revise comprehensively specific references to specific standards under U.S. GAAP in the Commission’s rules and staff guidance. This release is a result of that initiative with respect to the Commission’s rules and forms.23 Most of the technical amendments in this release result from a straightforward conversion of the prior U.S. GAAP reference to the corresponding reference in the FASB Codification. For a few specific references, the specific U.S. GAAP standard referenced in the Commission rule or form was superseded by the FASB prior to the establishment of the FASB Codification. In these instances, the particular term referenced in the Commission rule or form is no longer used in U.S. GAAP, or has a meaning different than under the prior referenced standard. In these instances, these amendments either delete the prior U.S. GAAP reference without replacement where it is no longer needed, or incorporates directly into the Commission rule or form the definition that had been used in the now-superseded standard in U.S. 20 See 17 CFR 210.1–01. e.g., Rule 1–02(u) of Regulation S–X [17 CFR 210.1–02(u)], which defines the term ‘‘related parties’’ by reference to FASB Statement of Financial Accounting Standards No. 57, Related Party Disclosures. 22 See 17 CFR 229.402. 23 References to U.S. GAAP in Commission staff guidance in the codification of Staff Accounting Bulletins have been updated as a result of SAB No. 114 issued on March 7, 2011, available at http:// www.sec.gov/interps/account/sab114.pdf. In addition, the Commission is adopting a technical amendment to the heading of Part 210 of the Code of Federal Regulations to remove a reference to the Public Utility Holding Company Act of 1935, which was repealed by the Energy Policy Act of 2005. Public Law 109–58 § 1263, 119 Stat. 624, 974 (2005). 21 See, E:\FR\FM\12AUR1.SGM 12AUR1 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations § 210.1–02 GAAP, as appropriate. All of the changes are technical in nature and none of the changes are intended to represent a substantive change in the underlying rules or forms. competitive advantages or disadvantages will be created. III. Certain Findings We are adopting these technical amendments pursuant to Sections 6, 7, 10, and 19 of the Securities Act,28 Sections 3, 10, 12, 13, 14, 15, 17, and 23 of the Exchange Act,29 and Sections 8, 20(a), 24, 30, and 38 of the Investment Company Act.30 IV. Consideration of Competitive Effects of Amendments Section 23(a)(2) of the Exchange Act requires the Commission, in adopting rules under the Exchange Act, to consider the competitive effects of such rules, if any, and to refrain from adopting a rule that would impose a burden on competition not necessary or appropriate in furtherance of the purposes of the Exchange Act.27 Because these amendments merely make technical changes to update references to applicable paragraphs, subtopics, or topics in the FASB Codification, we do not anticipate any erowe on DSK5CLS3C1PROD with RULES 24 5 U.S.C. 553(b). 25 For similar reasons, the amendments do not require analysis under the Regulatory Flexibility Act or analysis of major rule status under the Small Business Regulatory Enforcement Fairness Act. See 5 U.S.C. 601(2) (for purposes of Regulatory Flexibility Act analysis, the term ‘‘rule’’ means any rule for which the agency publishes a general notice of proposed rulemaking); and 5 U.S.C. 804(3)(C) (for purposes of Congressional review of agency rulemaking, the term ‘‘rule’’ does not include any rule of agency organization, procedure or practice that does not substantially affect the rights or obligations of non-agency parties). 26 See 5 U.S.C. 553(d)(3). 27 15 U.S.C. 78w(a)(2). VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 List of Subjects 17 CFR Part 210 Accountants, Accounting, Reporting and recordkeeping requirements, Securities. 17 CFR Parts 229, 239, and 249 Reporting and recordkeeping requirements, Securities. 17 CFR Part 230 Advertising, Reporting and recordkeeping requirements, Securities. 17 CFR Part 240 Brokers, Reporting and recordkeeping requirements, Securities. 17 CFR Parts 270 and 274 Investment companies, Reporting and recordkeeping requirements, Securities. Text of Amendments For the reasons set out in the preamble, Title 17, Chapter II, of the Code of Federal Regulations is amended as follows: PART 210—FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 1. The authority citation for Part 210 continues to read as follows: ■ Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 77z–2, 77z–3, 77aa(25), 77aa(26), 77nn(25), 77nn(26), 78c, 78j–1, 78l, 78m, 78n, 78o(d), 78q, 78u–5, 78w, 78ll, 78mm, 80a–8, 80a–20, 80a–29, 80a–30, 80a–31, 80a–37(a), 80b–3, 80b–11, 7202, and 7262, unless otherwise noted. 2. The part heading is revised to read as shown above. ■ 28 15 29 15 U.S.C. 77f, 77g, 77j, and 77s(a). U.S.C. 78c, 78j, 78l, 78m, 78n, 78o, 78q, and 78w. 30 15 U.S.C. 80a–8, 80a–20, 80a–24, 80a–29, and 80a–37. PO 00000 Frm 00009 Fmt 4700 Sfmt 4700 [Amended] 3. In § 210.1–02 amend paragraph (u) by removing ‘‘the Glossary to Statement of Financial Accounting Standards No. 57, ‘Related Party Disclosures’ ’’ and adding in its place ‘‘the FASB ASC Master Glossary’’. ■ V. Statutory Basis and Text of Amendments Under the Administrative Procedure Act, a notice of proposed rulemaking is not required when the agency, for good cause, finds that notice and public comment are impracticable, unnecessary, or contrary to the public interest.24 These amendments are technical changes to eliminate obsolete terminology and revise reporting and disclosure requirements as necessary to achieve consistency between the Commission’s compliance requirements and the FASB Codification. Because no one is likely to want to comment on such non-substantive, technical amendments, the Commission finds that it is unnecessary to publish notice of these amendments.25 The Administrative Procedure Act also requires publication of a rule at least 30 days before its effective date unless the agency finds otherwise for good cause.26 Because the amendments are non-substantive, and no affected parties would need time to learn of the changes and modify their practices, the Commission finds there is good cause for the amendments to take effect on August 12, 2011. 50119 § 210.4–01 [Amended] 4. In § 210.4–01: a. Amend paragraph (a)(3)(i) introductory text by removing ‘‘Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment (‘Statement No. 123R’)’’ and adding in its place ‘‘FASB ASC Topic 718, Compensation—Stock Compensation’’ and by removing ‘‘Statement No. 123R’’ and adding in its place ‘‘FASB ASC Topic 718’’. ■ b. Amend paragraph (a)(3)(ii) by removing ‘‘both Statement No. 123R and Statement of Financial Accounting Standards No. 123, Accounting for Stock-Based Compensation (October 1995),’’ and adding in its place ‘‘FASB ASC Topic 718 and prior authoritative guidance’’. ■ ■ § 210.4–08 [Amended] 5. In § 210.4–08: a. Amend paragraph (h)(3) by removing ‘‘Statement of Financial Accounting Standards 109, Accounting for Income Taxes’’ and adding in its place ‘‘FASB ASC Topic 740, Income Taxes’’. ■ b. Amend Instruction 1(i) to the Instructions to Paragraph (n) by removing ‘‘Financial Accounting Standards Board (‘FASB’), Statement of Financial Accounting Standards No. 119, ‘Disclosure about Derivative Financial Instruments and Fair Value of Financial Instruments,’ (‘FAS 119’) paragraphs 5–7, (October 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ c. Amend Instruction 2 to the Instructions to Paragraph (n) by removing ‘‘has the same meaning as defined by generally accepted accounting principles (see, e.g., FAS 119, paragraph 9a (October 1994))’’ and adding in its place ‘‘means dealing and other trading activities measured at fair value with gains and losses recognized in earnings’’. ■ d. Amend Instruction 3 of the Instructions to Paragraph (n) by removing ‘‘(see, e.g., FASB, Statement of Financial Accounting Standards No. 80, ‘Accounting for Futures Contracts,’ paragraph 9, (August 1984))’’. ■ ■ § 210.4–10 [Amended] 6. In § 210.4–10 amend paragraph (b) by removing ‘‘Statement of Financial ■ E:\FR\FM\12AUR1.SGM 12AUR1 50120 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations Accounting Standards No. 19, as amended’’ and adding in its place ‘‘FASB ASC Topic 932, Extractive Activities—Oil and Gas’’. § 210.10–01 [Amended] 7. In § 210.10–01: a. Amend paragraph (a)(7) by removing ‘‘Statement of Financial Accounting Standards No. 7, ‘Accounting and Reporting by Development Stage Enterprises’ ’’ and adding in its place ‘‘FASB ASC Topic 915, Development Stage Entities,’’. ■ b. Amend paragraph (b)(5) by removing ‘‘disposed of any significant segment of its business (as defined in paragraph 13 of Accounting Principles Board Opinion No. 30)’’ and adding in its place ‘‘reported a discontinued operation (as required by FASB ASC Subtopic 205–20, Presentation of Financial Statements—Discontinued Operations)’’. ■ ■ PART 229—STANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934 AND ENERGY POLICY AND CONSERVATION ACT OF 1975— REGULATION S–K 8. The authority citation for Part 229 continues to read in part as follows: ■ Authority: 15 U.S.C. 77e, 77f, 77g, 77h, 77j, 77k, 77s, 77z–2, 77z–3, 77aa(25), 77aa(26), 77ddd, 77eee, 77ggg, 77hhh, 777iii, 77jjj, 77nnn, 77sss, 78c, 78i, 78j, 78l, 78m, 78n, 78n–1, 78o, 78u–5, 78w, 78ll, 78mm, 80a–8, 80a–9, 80a–20, 80a–29, 80a–30, 80a–31(c), 80a–37, 80a–38(a), 80a–39, 80b–11, and 7201 et seq.; and 18 U.S.C. 1350, unless otherwise noted. * * § 229.101 * * * [Amended] 9. In § 229.101 amend Instruction 2 of the Instructions to Item 101 by removing ‘‘SFAS No. 131’’ and adding in its place ‘‘FASB ASC Topic 280, Segment Reporting,’’. ■ § 229.201 [Amended] 10. In § 229.201 amend Instruction 1 of the Instructions to Paragraph (d) by removing ‘‘Statement of Financial Accounting Standards No. 123, Accounting for Stock-Based Compensation, or any successor standard’’ and adding in its place ‘‘FASB ASC Topic 718, Compensation— Stock Compensation, and FASB ASC Subtopic 505–50, Equity—Equity-Based Payments to Non-Employees’’. erowe on DSK5CLS3C1PROD with RULES ■ § 229.302 [Amended] 11. In § 229.302: a. Amend paragraph (b) by removing ‘‘paragraphs 9–34 of Statement of ■ ■ VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 Financial Accounting Standards (‘SFAS’) No. 69, ‘Disclosures about Oil and Gas Producing Activities.’ If such oil and gas producing activities are regarded as significant under one or more of the tests set forth in paragraph 8 of SFAS No. 69.’’ and adding in its place ‘‘FASB ASC Topic 932, Extractive Activities—Oil and Gas, if such oil and gas producing activities are regarded as significant under one or more of the tests set forth in FASB ASC Subtopic 932–235, Extractive Activities—Oil and Gas—Notes to Financial Statements, for ‘Significant Activities.’ ’’. ■ b. Amend Instruction 1 of the Instructions to paragraph (b) by removing ‘‘SFAS No. 69’’ each time it appears and adding in its place ‘‘FASB ASC Subtopic 932–235’’. § 229.303 [Amended] 12. In § 229.303: a. Amend paragraph (a)(4)(ii)(A) by removing ‘‘paragraph 3 of FASB Interpretation No. 45, Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others (November 2002) (‘FIN 45’), as may be modified or supplemented, and that is not excluded from the initial recognition and measurement provisions of FIN 45 pursuant to paragraphs 6 or 7 of that Interpretation’’ and adding in its place ‘‘FASB ASC paragraph 460–10–15–4 (Guarantees Topic), as may be modified or supplemented, and that is not excluded from the initial recognition and measurement provisions of FASB ASC paragraphs 460–10–15–7, 460–10–25–1, and 460–10–30–1’’. ■ b. Amend paragraph (a)(4)(ii)(C) by removing ‘‘FASB Statement of Financial Accounting Standards No. 133, Accounting for Derivative Instruments and Hedging Activities (June 1998), pursuant to paragraph 11(a) of that Statement’’ and adding in its place ‘‘FASB ASC Topic 815, Derivatives and Hedging, pursuant to FASB ASC subparagraph 815–10–15–74(a)’’. ■ c. Amend paragraph (a)(4)(ii)(D) by removing ‘‘as referenced in FASB Interpretation No. 46, Consolidation of Variable Interest Entities (January 2003)’’ and adding in its place ‘‘as defined in the FASB ASC Master Glossary’’. ■ d. Amend paragraph (a)(5)(ii)(A) by removing ‘‘FASB Statement of Financial Accounting Standards No. 47 Disclosure of Long-Term Obligations (March 1981)’’ and adding in its place ‘‘FASB ASC paragraph 470–10–50–1 (Debt Topic)’’. ■ e. Amend paragraph (a)(5)(ii)(B) by removing ‘‘FASB Statement of Financial ■ ■ PO 00000 Frm 00010 Fmt 4700 Sfmt 4700 Accounting Standards No. 13 Accounting for Leases (November 1976)’’ and adding in its place ‘‘FASB ASC Topic 840, Leases’’. ■ f. Amend paragraph (a)(5)(ii)(C) by removing ‘‘FASB Statement of Financial Accounting Standards No. 13 Accounting for Leases (November 1976)’’ and adding in its place ‘‘FASB ASC Topic 840’’. ■ g. Amend Instruction 8 of the Instructions to paragraph 303(a) by removing ‘‘Statement of Financial Accounting Standards No. 89, ‘Financial Reporting and Changing Prices’ ’’ and adding in its place ‘‘FASB ASC Topic 255, Changing Prices,’’. ■ h. Amend Instruction 9 of the Instructions to paragraph 303(a) by removing ‘‘SFAS No. 89, ‘Financial Reporting and Changing Prices,’ ’’ and adding in its place ‘‘FASB ASC Topic 255’’. § 229.305 [Amended] 13. In § 229.305: a. Amend Instruction 1.C. of the Instructions to paragraph 305(a) by removing ‘‘FASB, Statement of Financial Accounting Standards No. 52, ‘Foreign Currency Translation’, (‘FAS 52’) paragraph 20 (December 1981)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ b. Amend Instruction 2.B.vi. of the Instructions to paragraph 305(a) by removing ‘‘FAS 52 paragraph 20 (December 1981)’’ and adding in its place ‘‘FASB ASC paragraph 830–20– 35–3 (Foreign Currency Matters Topic)’’. ■ c. Amend Instruction 2.E. of the Instructions to paragraph 305(a) by removing ‘‘(see, e.g., FAS 52 Appendix E for a definition of currency swap)’’. ■ d. Amend Instruction 3.B. of the Instructions to paragraph 305(a) by removing ‘‘FASB, Statement of Financial Accounting Standards No. 5, ‘Accounting for Contingencies,’ (‘FAS 5’) paragraph 3 (March 1975)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ e. Amend Instruction 3.C. of the Instructions to paragraph 305(a) by removing ‘‘generally AICPA, Statement of Position 94–6, ‘Disclosure of Certain Significant Risks and Uncertainties,’ (‘SOP 94–6’) at paragraph 7 (December 30, 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ f. Amend Instruction 3.E. of the Instructions to paragraph 305(a) by removing ‘‘FAS 52’’ and adding in its place ‘‘FASB ASC Topic 830, Foreign Currency Matters’’. ■ g. Amend Instruction 4.B. of the Instructions to paragraph 305(a) by removing ‘‘FAS 5, paragraph 3 (March ■ ■ E:\FR\FM\12AUR1.SGM 12AUR1 erowe on DSK5CLS3C1PROD with RULES Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations 1975)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ h. Amend Instruction 4.C. of the Instructions to paragraph 305(a) by removing ‘‘generally SOP 94–6, at paragraph 7 (December 30, 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ i. Amend Instruction 4.D. of the Instructions to paragraph 305(a) by removing ‘‘FAS 52’’ and adding in its place ‘‘FASB ASC Topic 830, Foreign Currency Matters’’. ■ j. Amend Instruction 3.A. of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘FASB, Statement of Financial Accounting Standards No. 119, ‘Disclosure about Derivative Financial Instruments and Fair Value of Financial Instruments,’ (‘FAS 119’) paragraphs 5–7 (October 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ k. Amend Instruction 3.B. of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘FASB, Statement of Financial Accounting Standards No. 107, ‘Disclosures about Fair Value of Financial Instruments,’ (‘FAS 107’) paragraphs 3 and 8 (December 1991)’’ and adding in its place ‘‘FASB ASC paragraph 825–10– 50–8 (Financial Instruments Topic)’’. ■ l. Amend Instruction 3.C.ii. of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘FAS 107, paragraph 8 (December 1991)’’ and adding in its place ‘‘FASB ASC paragraph 825–10–50–8’’. ■ m. Amend Instruction 5.C. of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘FASB Interpretation No. 39, ‘Offsetting of Amounts Related to Certain Contracts’ (March 1992)’’ and adding in its place ‘‘FASB ASC Subtopic 210–20, Balance Sheet—Offsetting’’. ■ n. Amend Instruction 5.E. of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘generally SOP 94–6, at paragraph 7 (December 30, 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ o. Amend Instruction 5.F. of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘FAS 5, paragraph 3 (March 1975)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ p. Amend Instruction 7 of the General Instructions to paragraphs 305(a) and 305(b) by removing ‘‘has the same meaning as defined by generally accepted accounting principles (see, e.g., FAS 119, paragraph 9a (October 1994))’’ and adding in its place ‘‘means dealing and other trading activities measured at fair value with gains and losses recognized in earnings’’, and by VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 50121 removing ‘‘(see, e.g., FASB, Statement of Financial Accounting Standards No. 80, ‘Accounting for Futures Contracts,’ paragraph 9, (August 1984))’’. ■ § 229.402 PART 230—GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1933 [Amended] 14. In § 229.402: a. Amend paragraph (a)(6)(iii) by removing ‘‘Financial Accounting Standards Board Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment, as modified or supplemented (‘FAS 123R’)’’ and adding in its place ‘‘FASB ASC Topic 718, Compensation—Stock Compensation’’. ■ b. Amend paragraphs (a)(6)(iv), (c)(2)(ix)(C), (d)(2)(viii), (e)(1)(iii), (k)(2)(vii)(C), (m)(5)(iv), (n)(2)(ix)(C), and (r)(2)(vii)(C) by removing ‘‘FAS 123R’’ each time it appears and adding in its place ‘‘FASB ASC Topic 718’’. ■ c. Amend the Instruction to Item 402(k)(2)(iii) and (iv) by removing ‘‘FAS 123R’’ and adding in its place ‘‘FASB ASC Topic 718’’. ■ d. Amend paragraph (m)(5)(iii) by removing ‘‘Financial Accounting Standards Board Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment, as modified or supplemented (‘FAS 123R’)’’ and adding in its place ‘‘FASB ASC Topic 718’’. ■ ■ § 229.503 [Amended] 15. In § 229.503 amend paragraph 1.(C) of the Instructions to paragraph 503(d) by removing ‘‘SFAS 71’’ and adding in its place ‘‘FASB ASC Topic 980, Regulated Operations,’’. ■ § 229.601 [Amended] 16. In § 229.601 amend paragraph (b)(11) by removing ‘‘on both primary and fully diluted basis’’ and by removing ‘‘even though the amounts of per share earnings on the fully diluted bases are not required to be presented in the income statement under the provisions of Accounting Principles Board Opinion No. 15. That Opinion provides that any reduction of less than 3% need not be considered as dilution (see footnote to paragraph 14 of the Opinion) and that a computation on the fully diluted basis which results in improvement of earnings per share not be taken into account (see paragraph 40 of the Opinion)’’ and adding in its place ‘‘on both a basic and diluted basis’’. ■ § 229.1204 [Amended] 17. In § 229.1204: a. Amend Instruction 4 to Item 1204 by removing ‘‘SFAS 69’’ and adding in its place ‘‘FASB ASC paragraph 932– 235–50–24 (Extractive Activities—Oil and Gas Topic)’’. ■ ■ PO 00000 Frm 00011 Fmt 4700 Sfmt 4700 b. Amend Instruction 5 to Item 1204 by removing ‘‘SFAS 69’’ and adding in its place ‘‘FASB ASC Topic 932, Extractive Activities—Oil and Gas’’. 18. The authority citation for Part 230 continues to read in part as follows: ■ Authority: 15 U.S.C. 77b, 77c, 77d, 77f, 77g, 77h, 77j, 77r, 77s, 77z-3, 77sss, 78c, 78d, 78j, 78l, 78m, 78n, 78o, 78t, 78w, 78ll(d), 78mm, 80a–8, 80a–24, 80a–28, 80a–29, 80a– 30, and 80a–37, unless otherwise noted. * * § 230.175 * * * [Amended] 19. In § 230.175 amend paragraph (b)(2)(ii) by removing ‘‘paragraphs 30– 34 of Statement of Financial Accounting Standards No. 69’’ and adding in its place ‘‘FASB ASC paragraphs 932–235– 50–29 through 932–235–50–36 (Extractive Activities—Oil and Gas Topic)’’. ■ PART 239—FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933 20. The authority citation for Part 239 continues to read, in part, as follows: ■ Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 77z–2, 77z–3, 77sss, 78c, 78l, 78m, 78n, 78o(d), 78u–5, 78w(a), 78ll, 78mm, 80a–2(a), 80a–3, 80a–8, 80a–9, 80a–10, 80a–13, 80a– 24, 80a–26, 80a–29, 80a–30, and 80a–37, unless otherwise noted. * * * * * 21. In Form S–4 (referenced in § 239.25): ■ Note: The text of Form S–4 does not, and this amendment will not, appear in the Code of Federal Regulations. a. Amend paragraph (b)(3) of Item 10 by removing ‘‘where one or more business combinations accounted for by the pooling of interest method of accounting have been consummated’’ and adding in its place ‘‘where a combination under common control has been consummated’’. ■ b. Amend paragraph (c)(1)(iii) of Item 12 by removing ‘‘consummation of one or more business combinations accounted for by the pooling of interest method of accounting’’ and adding in its place ‘‘combination under common control’’. ■ 22. In Form 1–A (referenced in § 239.90): ■ Note: The text of Form 1–A does not, and this amendment will not, appear in the Code of Federal Regulations. a. Amend the INSTRUCTION to the Cover Page for Offering Circular Model A by removing ‘‘Statement of Financial ■ E:\FR\FM\12AUR1.SGM 12AUR1 50122 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations Indirect Guarantees of Indebtedness of Others (November 2002) (‘FIN 45’), as may be modified or supplemented, excluding the types of guarantee contracts described in paragraphs 6 and 7 of FIN 45’’ and adding in its place ‘‘FASB ASC paragraph 460–10–15–4 (Guarantees Topic), as may be modified or supplemented, excluding the types of PART 240—GENERAL RULES AND guarantee contracts described in FASB REGULATIONS, SECURITIES ASC paragraphs 460–10–15–7, 460–10– EXCHANGE ACT OF 1934 25–1, and 460–10–30–1’’. ■ b. Amend paragraph (d) of Item 5.E.2 ■ 23. The authority citation for Part 240 by removing ‘‘referenced in FASB continues to read in part as follows: Interpretation No. 46, Consolidation of Authority: 15 U.S.C. 77c, 77d, 77g, 77j, Variable Interest Entities (January 77s, 77z–2, 77z–3, 77eee, 77ggg, 77nnn, 2003)’’ and adding in its place ‘‘defined 77sss, 77ttt, 78c, 78d, 78e, 78f, 78g, 78i, 78j, in the FASB ASC Master Glossary’’. 78j–1, 78k, 78k–1, 78l, 78m, 78n, 78n–1, 78o, ■ c. Amend Instruction 1.C. of the 78o–4, 78p, 78q, 78s, 78u–5, 78w, 78x, 78ll, 78mm, 80a–20, 80a–23, 80a–29, 80a–37, 80b– Instructions to Item 11(a) by removing ‘‘FASB, Statement of Financial 3, 80b–4, 80b–11, and 7201 et seq.; 18 U.S.C. Accounting Standards No. 52, ‘Foreign 1350; 12 U.S.C. 5221(e)(3); and 7 U.S.C. 2(c)(2)(E), unless otherwise noted. Currency Translation’, (‘FAS 52’) paragraph 20 (December 1981)’’ and * * * * * adding in its place ‘‘FASB ASC Master § 240.3b–6 [Amended] Glossary’’. ■ d. Amend Instruction 2.B.vi. of the ■ 24. In § 240.3b–6 amend paragraph Instructions to Item 11(a) by removing (b)(2)(ii) by removing ‘‘paragraphs 30– 34 of Statement of Financial Accounting ‘‘FAS 52 paragraph 20 (December 1981)’’ and adding in its place ‘‘FASB Standards No. 69’’ and adding in its place ‘‘FASB ASC paragraphs 932–235– ASC paragraph 830–20–35–3 (Foreign Currency Matters Topic)’’. 50–29 through 932–235–50–36 ■ e. Amend Instruction 2.E. of the (Extractive Activities—Oil and Gas Instructions to Item 11(a) by removing Topic)’’. ‘‘(see, e.g., FAS 52 Appendix E for a § 240.17h–1T [Amended] definition of currency swap)’’. ■ f. Amend Instruction 3.B. of the ■ 25. In § 240.17h–1T amend paragraph (a)(1)(vii) by removing the parenthetical Instructions to Item 11(a) by removing ‘‘FASB, Statement of Financial phrase ‘‘(as those terms are used in Accounting Standards No. 5, Statement of Financial Accounting ‘Accounting for Contingencies, ’ (‘FAS Standards No. 105)’’ and removing ‘‘(as 5’) paragraph 3 (March 1975)’’ and that term is used in Statement of adding in its place ‘‘FASB ASC Master Financial Accounting Standards No. Glossary’’. 105)’’ and adding in its place ‘‘(defined ■ g. Amend Instruction 3.C. of the as the possibility that a loss may occur Instructions to Item 11(a) by removing from the failure of another party to ‘‘generally AICPA, Statement of Position perform according to the terms of a 946, ‘Disclosure of Certain Significant contract)’’. Risks and Uncertainties,’ (‘SOP 94–6’) at paragraph 7 (December 30, 1994)’’ and PART 249—FORMS, SECURITIES adding in its place ‘‘FASB ASC Master EXCHANGE ACT OF 1934 Glossary’’. ■ 26. The authority citation for Part 249 ■ h. Amend Instruction 3.E. of the continues to read, in part, as follows: Instructions to Item 11(a) by removing ‘‘FAS 52’’ and adding in its place ‘‘FASB Authority: 15 U.S.C. 78a et seq. and 7201 ASC Topic 830, Foreign Currency et seq.; and 18 U.S.C. 1350, unless otherwise Matters’’. noted. ■ i. Amend Instruction 4.B. of the * * * * * Instructions to Item 11(a) by removing ■ 27. In Form 20–F (referenced in ‘‘FAS 5, paragraph 3 (March 1975)’’ and § 249.220f): adding in its place ‘‘FASB ASC Master Note: The text of Form 20–F does not, and Glossary’’. this amendment will not, appear in the Code ■ j. Amend Instruction 4.C. of the of Federal Regulations. Instructions to Item 11(a) by removing ■ a. Amend paragraph (a) of Item 5.E.2 ‘‘generally SOP 94–6, at paragraph 7 by removing ‘‘paragraph 3 of FASB (December 30, 1994)’’ and adding in its Interpretation No. 45, Guarantor’s place ‘‘FASB ASC Master Glossary’’. Accounting and Disclosure ■ k. Amend Instruction 4.D. of the Requirements for Guarantees, Including Instructions to Item 11(a) by removing erowe on DSK5CLS3C1PROD with RULES Accounting Standards No. 7 (June 1, 1975).’’ and adding in its place ‘‘the FASB ASC Master Glossary for a ‘development stage entity.’ ’’. ■ b. Amend paragraph (4)(c)(ii) to Part F/S by removing ‘‘pooling of interests’’ and adding in its place ‘‘combination under common control’’. VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 PO 00000 Frm 00012 Fmt 4700 Sfmt 4700 ‘‘FAS 52’’ and adding in its place ‘‘FASB ASC Topic 830, Foreign Currency Matters’’. ■ l. Amend Instruction 3.A. of the General Instructions to Items 11(a) and 11(b) by removing ‘‘FASB, Statement of Financial Accounting Standards No. 119, ‘Disclosure about Derivative Financial Instruments and Fair Value of Financial Instruments,’ (‘FAS 119’) paragraphs 5–7 (October 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ m. Amend Instruction 3.B. of the General Instructions to Items 11(a) and 11(b) by removing ‘‘FASB, Statement of Financial Accounting Standards No. 107, ‘Disclosures about Fair Value of Financial Instruments,’ (‘FAS 107’) paragraphs 3 and 8 (December 1991)’’ and adding in its place ‘‘FASB ASC paragraph 825–10–50–8 (Financial Instruments Topic)’’. ■ n. Amend Instruction 3.C.ii. of the General Instructions to Items 11(a) and 11(b) by removing ‘‘FAS 107, paragraph 8 (December 1991)’’ and adding in its place ‘‘FASB ASC paragraph 825–10– 50–8’’. ■ o. Amend Instruction 5.C. of the General Instructions to Items 11(a) and 11(b) by removing ‘‘FASB Interpretation No. 39, ‘Offsetting of Amounts Related to Certain Contracts’ (March 1992)’’ and adding in its place ‘‘FASB ASC Subtopic 210–20, Balance Sheet—Offsetting’’. ■ p. Amend Instruction 5.E. of the General Instructions to Items 11(a) and 11(b) by removing ‘‘generally SOP 946, at paragraph 7 (December 30, 1994)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ q. Amend Instruction 5.F. of the General Instructions to Items 11(a) and 11(b) by removing ‘‘FAS 5, paragraph 3 (March 1975)’’ and adding in its place ‘‘FASB ASC Master Glossary’’. ■ r. Amend Instruction 7 of the General Instructions to Items 11(a) and 11(b) by removing ‘‘has the same meaning as defined by generally accepted accounting principles (see, e.g., FAS 119, paragraph 9a (October 1994))’’ and adding in its place ‘‘means dealing and other trading activities measured at fair value with gains and losses recognized in earnings’’ and by removing ‘‘(see, e.g., FASB, Statement of Financial Accounting Standards No. 80, ‘Accounting for Futures Contracts,’ paragraph 9, (August 1984))’’. ■ s. Amend Instruction 3 of the Instructions to Item 17 by removing ‘‘SFAS No. 131’’ the first time it appears and adding in its place ‘‘FASB ASC Topic 280, Segment Reporting’’ and by removing ‘‘SFAS No. 131’’ the second time it appears and adding in its place ‘‘FASB ASC Topic 280’’. E:\FR\FM\12AUR1.SGM 12AUR1 Federal Register / Vol. 76, No. 156 / Friday, August 12, 2011 / Rules and Regulations t. Amend paragraph 2 of the Instruction to Item 18 by removing ‘‘FASB Statement of Accounting Standards No. 69, ‘Disclosures about Oil and Gas Producing Activities,’ ’’ and adding in its place ‘‘FASB ASC Topic 932, Extractive Activities—Oil and Gas,’’. ■ 28. In Form 40–F (referenced in § 249.240f): ■ Note: The text of Form 40–F does not, and this amendment will not, appear in the Code of Federal Regulations. a. Amend paragraph (11)(ii)(A) in General Instruction B by removing ‘‘paragraph 3 of FASB Interpretation No. 45, Guarantor’s Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of Others (November 2002) (‘FIN 45’), as may be modified or supplemented, excluding the types of guarantee contracts described in paragraphs 6 and 7 of FIN 45’’ and adding in its place ‘‘FASB ASC paragraph 460–10–15–4 (Guarantees Topic), as may be modified or supplemented, excluding the types of guarantee contracts described in FASB ASC paragraphs 460–10–15–7, 460–10– 25–1, and 460–10–30–1’’. ■ b. Amend paragraph (11)(ii)(D) in General Instruction B by removing ‘‘referenced in FASB Interpretation No. 46, Consolidation of Variable Interest Entities (January 2003)’’ and adding in its place ‘‘defined in the FASB ASC Master Glossary’’. ■ 29. In Form 8–K (referenced in § 249.308): ■ Note: The text of Form 8–K does not, and this amendment will not, appear in the Code of Federal Regulations. a. Amend paragraph (e) of Item 2.03 by removing ‘‘Accounting Research Bulletin No. 43, Chapter 3A, Working Capital’’ and adding in its place ‘‘FASB ASC paragraph 210–10–45–3 (Balance Sheet Topic)’’. ■ b. Amend paragraph (c) of Item 2.04 by removing ‘‘FASB Statement of Financial Accounting Standards No. 5 Accounting for Contingencies (SFAS No. 5)’’ and adding in its place ‘‘FASB ASC Section 450–20–25, Contingencies—Loss Contingencies— Recognition,’’. ■ c. Amend Instruction 4 of Item 2.04 by removing ‘‘SFAS No. 5’’ and adding in its place ‘‘FASB ASC Section 450–20– 25’’. ■ d. Amend the first paragraph of Item 2.05 by removing ‘‘paragraph 8 of FASB Statement of Financial Accounting Standards No. 146 Accounting for Costs Associated with Exit or Disposal Activities (SFAS No. 146)’’ and adding erowe on DSK5CLS3C1PROD with RULES ■ VerDate Mar<15>2010 14:11 Aug 11, 2011 Jkt 223001 50123 in its place ‘‘FASB ASC paragraph 420– 10–25–4 (Exit or Disposal Cost Obligations Topic)’’. ■ e. Amend paragraph (a) of Item 4.02 by removing ‘‘Accounting Principles Board Opinion No. 20’’ and adding in its place ‘‘FASB ASC Topic 250, Accounting Changes and Error Corrections’’. ■ 30. In Form 17–H (referenced in § 249.328T) amend Item II.K. of Part II by removing ‘‘as defined in Statement of Financial Accounting Standards No. 105’’. Income Statement—Extraordinary and Unusual Items’’. ■ 35. In Form N–3 (referenced in §§ 239.17a and 274.11b) amend Instruction 15(a) of the General Instructions to paragraph (a) of Item 3 by removing ‘‘Accounting Principles Board Opinion No. 30’’ and adding in its place ‘‘FASB ASC Subtopic 225–20, Income Statement—Extraordinary and Unusual Items’’. Note: The text of Form 17–H does not, and this amendment will not, appear in the Code of Federal Regulations. ■ PART 270—RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940 31. The authority citation for Part 270 continues to read in part as follows: ■ Authority: 15 U.S.C. 80a–1 et seq., 80a– 34(d), 80a–37, and 80a–39, unless otherwise noted. * * § 270.3a–8 * * Note: The text of Form N–3 does not, and this amendment will not, appear in the Code of Federal Regulations. 36. In Form N–4 (referenced in §§ 239.17b and 274.11c) amend Instruction 17.(b) of the General Instructions to paragraph (a) of Item 3 by removing ‘‘Accounting Principles Board Opinion No. 30’’ and adding in its place ‘‘FASB ASC Subtopic 225–20, Income Statement—Extraordinary and Unusual Items’’. Note: The text of Form N–4 does not, and this amendment will not, appear in the Code of Federal Regulations. 37. In Form N–6 (referenced in §§ 239.17c and 274.11d) amend Instruction 4(c) of the Instructions to Item 3 by removing ‘‘Accounting Principles Board Opinion No. 30’’ and adding in its place ‘‘FASB ASC Subtopic 225–20, Income Statement— Extraordinary and Unusual Items’’. ■ * [Amended] 32. Amend paragraph (b)(9) of § 270.3a–8 by removing ‘‘expenses as defined in FASB Statement of Financial Accounting Standards No. 2, Accounting for Research and Development Costs’’ and adding in its place ‘‘costs as defined in FASB ASC Topic 730, Research and Development’’. ■ PART 274—FORMS PRESCRIBED UNDER THE INVESTMENT COMPANY ACT OF 1940 33. The authority citation for Part 274 continues to read, in part, as follows: ■ Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 78c(b), 78l, 78m, 78n, 78o(d), 80a–8, 80a–24, 80a–26, and 80a–29, unless otherwise noted. * * * * * 34. In Form N–1A (referenced in §§ 239.15A and 274.11A): Note: The text of Form N–6 does not, and this amendment will not, appear in the Code of Federal Regulations. Dated: August 8, 2011. By the Commission. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–20413 Filed 8–11–11; 8:45 am] BILLING CODE 8011–01–P DEPARTMENT OF HOMELAND SECURITY ■ Coast Guard Note: The text of Form N–1A does not, and this amendment will not, appear in the Code of Federal Regulations. 33 CFR Part 117 a. Amend Instruction 3(c)(ii) of the Instructions to Item 3 by removing ‘‘Accounting Principles Board Opinion No. 30’’ and adding in its place ‘‘FASB ASC Subtopic 225–20, Income Statement—Extraordinary and Unusual Items’’. ■ b. Amend Instruction 2(a)(ii) of the Instructions to paragraph (d)(1) of Item 27 by removing ‘‘Accounting Principles Board Opinion No. 30’’ and adding in its place ‘‘FASB ASC Subtopic 225–20, Drawbridge Operation Regulations; Hackensack River, Jersey City, NJ ■ PO 00000 Frm 00013 Fmt 4700 Sfmt 4700 [Docket No. USCG–2011–0762] Coast Guard, DHS. Notice of temporary deviation from regulations. AGENCY: ACTION: The Commander, First Coast Guard District, has issued a temporary deviation from the regulation governing the operation of the Hack Freight Bridge, mile 3.1, across the Hackensack River, at Jersey City, New Jersey. The SUMMARY: E:\FR\FM\12AUR1.SGM 12AUR1

Agencies

[Federal Register Volume 76, Number 156 (Friday, August 12, 2011)]
[Rules and Regulations]
[Pages 50117-50123]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-20413]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 210, 229, 230, 239, 240, 249, 270, and 274

[Release Nos. 33-9250; 34-65052; IC-29748]


Commission Rules and Forms Related to the FASB's Accounting 
Standards Codification

AGENCY: Securities and Exchange Commission.

ACTION: Final rule; technical amendments.

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SUMMARY: The Securities and Exchange Commission (``Commission'') is 
adopting technical amendments to various rules and forms under the 
Securities Act of 1933, the Securities Exchange Act of 1934, and the 
Investment Company Act of 1940. These revisions are necessary to 
conform those rules and forms to the FASB Accounting Standards 
Codification\TM\ (``FASB Codification'').\1\ The technical amendments 
include revision of certain rules in Regulation S-X, certain items in 
Regulation S-K, and various rules and forms prescribed under the 
Securities Act, Exchange Act and Investment Company Act.
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    \1\ ``FASB Accounting Standards Codification'' is a registered 
trademark of the Financial Accounting Foundation.

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DATES: Effective Date: August 12, 2011.

FOR FURTHER INFORMATION CONTACT: Jenifer Minke-Girard, Senior Associate 
Chief Accountant, or Annemarie Ettinger, Senior Special Counsel, at 
(202) 551-5300, Office of the Chief Accountant, or Angela Crane, 
Associate Chief Accountant, at (202) 551-3400, Division of Corporation 
Finance, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549.

SUPPLEMENTARY INFORMATION: We are adopting technical amendments to each 
of the following provisions of

[[Page 50118]]

Regulation S-X,\2\ Regulation S-K,\3\ and the rules and forms under the 
Securities Act of 1933 \4\ (the ``Securities Act''), the Securities 
Exchange Act of 1934 \5\ (the ``Exchange Act''), and the Investment 
Company Act of 1940 \6\ (the ``Investment Company Act''):
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    \2\ 17 CFR 210.
    \3\ 17 CFR 229.
    \4\ 15 U.S.C. 77a et seq. Additionally, the Commission has 
authorized the staff to issue technical amendments to Industry 
Guides 3 and 7 to conform the guides to the FASB Codification. The 
Industry Guides serve as expressions of the policies and practices 
of the Division of Corporation Finance. They are of assistance to 
issuers, their counsel, and others preparing registration statements 
and reports, as well as to the Commission's staff. The Industry 
Guides are not rules, regulations, or statements of the Commission. 
The Commission has neither approved nor disapproved these 
interpretations. See Release No. 33-6384 (Mar. 16, 1982) [47 FR 
11476].
    \5\ 15 U.S.C. 78a et seq.
    \6\ 15 U.S.C. 80a-1 et seq.
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     Rules 1-02, 4-01, 4-08, 4-10, and 10-01 of Regulation S-
X.\7\
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    \7\ 17 CFR 210.1-02, 210.4-01, 210.4-08, 210.4-10, and 210.10-
01.
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     Items 101, 201, 302, 303, 305, 402, 503, 601, and 1204 of 
Regulation S-K.\8\
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    \8\ 17 CFR 229.101, 229.201, 229.302, 229.303, 229.305, 229.402, 
229.601, and 229.1204.
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     Securities Act Rule 175.\9\
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    \9\ 17 CFR 230.175.
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     Securities Act Forms S-4 and 1-A.\10\
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    \10\ 17 CFR 239.25 and 239.90.
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     Exchange Act Rules 3b-6 and 17h-1T.\11\
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    \11\ 17 CFR 240.3b-6 and 240.17h-1T.
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     Exchange Act Forms 20-F, 40-F, 8-K, and 17-H.\12\
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    \12\ 17 CFR 249.220f, 249.240f, 249.308, and 249.328T.
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     Investment Company Act Rule 3a-8.\13\
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    \13\ 17 CFR 270.3a-8.
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     Investment Company Act Forms N-1A, N-3, N-4, and N-6.\14\
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    \14\ 17 CFR 239.15A and 274.11A; 17 CFR 239.17a and 274.11b; 17 
CFR 239.17b and 274.11c; and 17 CFR 239.17c and 274.11d.
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I. Background

    Section 108 of the Sarbanes-Oxley Act of 2002 \15\ (the ``Sarbanes-
Oxley Act'') amended Section 19(b) of the Securities Act \16\ to 
provide that the Commission may recognize, as generally accepted for 
purposes of the securities laws, any accounting principles established 
by a standard-setting body that meets specified criteria. On April 25, 
2003, the Commission issued a policy statement concluding that the 
Financial Accounting Standards Board (``FASB'') and its parent 
organization, the Financial Accounting Foundation, satisfied the 
criteria for an accounting standard-setting body under the Sarbanes-
Oxley Act, and recognizing the FASB's financial accounting and 
reporting standards as ``generally accepted'' for purposes of the 
Federal securities laws.\17\
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    \15\ 15 U.S.C. 7201 et seq.
    \16\ 15 U.S.C. 77s(b).
    \17\ See Commission Statement of Policy Reaffirming the Status 
of the FASB as a Designated Private-Sector Standard Setter, Release 
No. 33-8221 (April 25, 2003) [68 FR 23333].
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    On June 30, 2009, the FASB issued FASB Statement of Financial 
Accounting Standards No. 168, The FASB Accounting Standards 
Codification\TM\ and the Hierarchy of Generally Accepted Accounting 
Principles--a replacement of FASB Statement No. 162 (``Statement No. 
168''), to establish the FASB Codification as the source of 
authoritative non-Commission accounting principles recognized by the 
FASB to be applied by nongovernmental entities in the preparation of 
financial statements in conformity with U.S. generally accepted 
accounting principles (``U.S. GAAP''). Statement No. 168 became 
effective for financial statements issued for interim and annual 
periods ending after September 15, 2009. The FASB Codification 
reorganizes existing U.S. accounting and reporting standards issued by 
the FASB and other related private-sector standard setters. All 
guidance contained in the FASB Codification carries an equal level of 
authority.\18\
---------------------------------------------------------------------------

    \18\ The FASB Codification is available at http://asc.fasb.org/home.
---------------------------------------------------------------------------

    The FASB Codification affects those Commission rules, regulations, 
releases, and staff bulletins (collectively referred to in this release 
as ``Commission rules and staff guidance'') that refer to specific FASB 
standards or other private sector standard-setter literature under U.S. 
GAAP, because such references are now superseded by the FASB 
Codification. As is discussed further below, on August 18, 2009, the 
Commission issued interpretive guidance \19\ to avoid confusion on the 
part of issuers, auditors, investors, and other users of financial 
statements about the use of U.S. GAAP references in Commission rules 
and staff guidance.
---------------------------------------------------------------------------

    \19\ Release No. 33-9062A (Aug. 18, 2009) [74 FR 42772].
---------------------------------------------------------------------------

II. Discussion

    Many parts of Commission rules and staff guidance include direct 
references to specific standards under U.S. GAAP. For example, 
Regulation S-X--which, together with the Commission's Financial 
Reporting Releases, sets forth the form and content of and requirements 
for financial statements required to be filed with the Commission 
\20\--includes references to specific standards under U.S. GAAP.\21\ In 
addition, some parts of Commission rules and staff guidance outside of 
the financial statement context include references to specific 
standards under U.S. GAAP, such as in Item 402 of Regulation S-K 
regarding disclosure of executive compensation.\22\
---------------------------------------------------------------------------

    \20\ See 17 CFR 210.1-01.
    \21\ See, e.g., Rule 1-02(u) of Regulation S-X [17 CFR 210.1-
02(u)], which defines the term ``related parties'' by reference to 
FASB Statement of Financial Accounting Standards No. 57, Related 
Party Disclosures.
    \22\ See 17 CFR 229.402.
---------------------------------------------------------------------------

    In its August 18, 2009 interpretive release, the Commission noted 
that given the possible confusion between Commission rules and staff 
guidance, on the one hand, and the FASB's Codification, on the other 
hand, effective immediately, references in Commission rules and staff 
guidance to specific standards under U.S. GAAP should be understood to 
mean the corresponding reference in the FASB Codification. In the 
August 18, 2009 release, the Commission stated that it intended to 
embark on a longer term rulemaking and updating initiative to revise 
comprehensively specific references to specific standards under U.S. 
GAAP in the Commission's rules and staff guidance. This release is a 
result of that initiative with respect to the Commission's rules and 
forms.\23\
---------------------------------------------------------------------------

    \23\ References to U.S. GAAP in Commission staff guidance in the 
codification of Staff Accounting Bulletins have been updated as a 
result of SAB No. 114 issued on March 7, 2011, available at http://www.sec.gov/interps/account/sab114.pdf. In addition, the Commission 
is adopting a technical amendment to the heading of Part 210 of the 
Code of Federal Regulations to remove a reference to the Public 
Utility Holding Company Act of 1935, which was repealed by the 
Energy Policy Act of 2005. Public Law 109-58 Sec.  1263, 119 Stat. 
624, 974 (2005).
---------------------------------------------------------------------------

    Most of the technical amendments in this release result from a 
straightforward conversion of the prior U.S. GAAP reference to the 
corresponding reference in the FASB Codification. For a few specific 
references, the specific U.S. GAAP standard referenced in the 
Commission rule or form was superseded by the FASB prior to the 
establishment of the FASB Codification. In these instances, the 
particular term referenced in the Commission rule or form is no longer 
used in U.S. GAAP, or has a meaning different than under the prior 
referenced standard. In these instances, these amendments either delete 
the prior U.S. GAAP reference without replacement where it is no longer 
needed, or incorporates directly into the Commission rule or form the 
definition that had been used in the now-superseded standard in U.S.

[[Page 50119]]

GAAP, as appropriate. All of the changes are technical in nature and 
none of the changes are intended to represent a substantive change in 
the underlying rules or forms.

III. Certain Findings

    Under the Administrative Procedure Act, a notice of proposed 
rulemaking is not required when the agency, for good cause, finds that 
notice and public comment are impracticable, unnecessary, or contrary 
to the public interest.\24\ These amendments are technical changes to 
eliminate obsolete terminology and revise reporting and disclosure 
requirements as necessary to achieve consistency between the 
Commission's compliance requirements and the FASB Codification. Because 
no one is likely to want to comment on such non-substantive, technical 
amendments, the Commission finds that it is unnecessary to publish 
notice of these amendments.\25\
---------------------------------------------------------------------------

    \24\ 5 U.S.C. 553(b).
    \25\ For similar reasons, the amendments do not require analysis 
under the Regulatory Flexibility Act or analysis of major rule 
status under the Small Business Regulatory Enforcement Fairness Act. 
See 5 U.S.C. 601(2) (for purposes of Regulatory Flexibility Act 
analysis, the term ``rule'' means any rule for which the agency 
publishes a general notice of proposed rulemaking); and 5 U.S.C. 
804(3)(C) (for purposes of Congressional review of agency 
rulemaking, the term ``rule'' does not include any rule of agency 
organization, procedure or practice that does not substantially 
affect the rights or obligations of non-agency parties).
---------------------------------------------------------------------------

    The Administrative Procedure Act also requires publication of a 
rule at least 30 days before its effective date unless the agency finds 
otherwise for good cause.\26\ Because the amendments are non-
substantive, and no affected parties would need time to learn of the 
changes and modify their practices, the Commission finds there is good 
cause for the amendments to take effect on August 12, 2011.
---------------------------------------------------------------------------

    \26\ See 5 U.S.C. 553(d)(3).
---------------------------------------------------------------------------

IV. Consideration of Competitive Effects of Amendments

    Section 23(a)(2) of the Exchange Act requires the Commission, in 
adopting rules under the Exchange Act, to consider the competitive 
effects of such rules, if any, and to refrain from adopting a rule that 
would impose a burden on competition not necessary or appropriate in 
furtherance of the purposes of the Exchange Act.\27\ Because these 
amendments merely make technical changes to update references to 
applicable paragraphs, subtopics, or topics in the FASB Codification, 
we do not anticipate any competitive advantages or disadvantages will 
be created.
---------------------------------------------------------------------------

    \27\ 15 U.S.C. 78w(a)(2).
---------------------------------------------------------------------------

V. Statutory Basis and Text of Amendments

    We are adopting these technical amendments pursuant to Sections 6, 
7, 10, and 19 of the Securities Act,\28\ Sections 3, 10, 12, 13, 14, 
15, 17, and 23 of the Exchange Act,\29\ and Sections 8, 20(a), 24, 30, 
and 38 of the Investment Company Act.\30\
---------------------------------------------------------------------------

    \28\ 15 U.S.C. 77f, 77g, 77j, and 77s(a).
    \29\ 15 U.S.C. 78c, 78j, 78l, 78m, 78n, 78o, 78q, and 78w.
    \30\ 15 U.S.C. 80a-8, 80a-20, 80a-24, 80a-29, and 80a-37.
---------------------------------------------------------------------------

List of Subjects

17 CFR Part 210

    Accountants, Accounting, Reporting and recordkeeping requirements, 
Securities.

17 CFR Parts 229, 239, and 249

    Reporting and recordkeeping requirements, Securities.

17 CFR Part 230

    Advertising, Reporting and recordkeeping requirements, Securities.

17 CFR Part 240

    Brokers, Reporting and recordkeeping requirements, Securities.

17 CFR Parts 270 and 274

    Investment companies, Reporting and recordkeeping requirements, 
Securities.

Text of Amendments

    For the reasons set out in the preamble, Title 17, Chapter II, of 
the Code of Federal Regulations is amended as follows:

PART 210--FORM AND CONTENT OF AND REQUIREMENTS FOR FINANCIAL 
STATEMENTS, SECURITIES ACT OF 1933, SECURITIES EXCHANGE ACT OF 
1934, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 
1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975

0
1. The authority citation for Part 210 continues to read as follows:

    Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3, 
77aa(25), 77aa(26), 77nn(25), 77nn(26), 78c, 78j-1, 78l, 78m, 78n, 
78o(d), 78q, 78u-5, 78w, 78ll, 78mm, 80a-8, 80a-20, 80a-29, 80a-30, 
80a-31, 80a-37(a), 80b-3, 80b-11, 7202, and 7262, unless otherwise 
noted.


0
2. The part heading is revised to read as shown above.


Sec.  210.1-02  [Amended]

0
3. In Sec.  210.1-02 amend paragraph (u) by removing ``the Glossary to 
Statement of Financial Accounting Standards No. 57, `Related Party 
Disclosures' '' and adding in its place ``the FASB ASC Master 
Glossary''.


Sec.  210.4-01  [Amended]

0
4. In Sec.  210.4-01:
0
a. Amend paragraph (a)(3)(i) introductory text by removing ``Statement 
of Financial Accounting Standards No. 123 (revised 2004), Share-Based 
Payment (`Statement No. 123R')'' and adding in its place ``FASB ASC 
Topic 718, Compensation--Stock Compensation'' and by removing 
``Statement No. 123R'' and adding in its place ``FASB ASC Topic 718''.
0
b. Amend paragraph (a)(3)(ii) by removing ``both Statement No. 123R and 
Statement of Financial Accounting Standards No. 123, Accounting for 
Stock-Based Compensation (October 1995),'' and adding in its place 
``FASB ASC Topic 718 and prior authoritative guidance''.


Sec.  210.4-08  [Amended]

0
5. In Sec.  210.4-08:
0
a. Amend paragraph (h)(3) by removing ``Statement of Financial 
Accounting Standards 109, Accounting for Income Taxes'' and adding in 
its place ``FASB ASC Topic 740, Income Taxes''.
0
b. Amend Instruction 1(i) to the Instructions to Paragraph (n) by 
removing ``Financial Accounting Standards Board (`FASB'), Statement of 
Financial Accounting Standards No. 119, `Disclosure about Derivative 
Financial Instruments and Fair Value of Financial Instruments,' (`FAS 
119') paragraphs 5-7, (October 1994)'' and adding in its place ``FASB 
ASC Master Glossary''.
0
c. Amend Instruction 2 to the Instructions to Paragraph (n) by removing 
``has the same meaning as defined by generally accepted accounting 
principles (see, e.g., FAS 119, paragraph 9a (October 1994))'' and 
adding in its place ``means dealing and other trading activities 
measured at fair value with gains and losses recognized in earnings''.
0
d. Amend Instruction 3 of the Instructions to Paragraph (n) by removing 
``(see, e.g., FASB, Statement of Financial Accounting Standards No. 80, 
`Accounting for Futures Contracts,' paragraph 9, (August 1984))''.


Sec.  210.4-10  [Amended]

0
6. In Sec.  210.4-10 amend paragraph (b) by removing ``Statement of 
Financial

[[Page 50120]]

Accounting Standards No. 19, as amended'' and adding in its place 
``FASB ASC Topic 932, Extractive Activities--Oil and Gas''.


Sec.  210.10-01  [Amended]

0
7. In Sec.  210.10-01:
0
a. Amend paragraph (a)(7) by removing ``Statement of Financial 
Accounting Standards No. 7, `Accounting and Reporting by Development 
Stage Enterprises' '' and adding in its place ``FASB ASC Topic 915, 
Development Stage Entities,''.
0
b. Amend paragraph (b)(5) by removing ``disposed of any significant 
segment of its business (as defined in paragraph 13 of Accounting 
Principles Board Opinion No. 30)'' and adding in its place ``reported a 
discontinued operation (as required by FASB ASC Subtopic 205-20, 
Presentation of Financial Statements--Discontinued Operations)''.

PART 229--STANDARD INSTRUCTIONS FOR FILING FORMS UNDER SECURITIES 
ACT OF 1933, SECURITIES EXCHANGE ACT OF 1934 AND ENERGY POLICY AND 
CONSERVATION ACT OF 1975--REGULATION S-K

0
8. The authority citation for Part 229 continues to read in part as 
follows:

    Authority: 15 U.S.C. 77e, 77f, 77g, 77h, 77j, 77k, 77s, 77z-2, 
77z-3, 77aa(25), 77aa(26), 77ddd, 77eee, 77ggg, 77hhh, 777iii, 
77jjj, 77nnn, 77sss, 78c, 78i, 78j, 78l, 78m, 78n, 78n-1, 78o, 78u-
5, 78w, 78ll, 78mm, 80a-8, 80a-9, 80a-20, 80a-29, 80a-30, 80a-31(c), 
80a-37, 80a-38(a), 80a-39, 80b-11, and 7201 et seq.; and 18 U.S.C. 
1350, unless otherwise noted.
* * * * *


Sec.  229.101  [Amended]

0
9. In Sec.  229.101 amend Instruction 2 of the Instructions to Item 101 
by removing ``SFAS No. 131'' and adding in its place ``FASB ASC Topic 
280, Segment Reporting,''.


Sec.  229.201  [Amended]

0
10. In Sec.  229.201 amend Instruction 1 of the Instructions to 
Paragraph (d) by removing ``Statement of Financial Accounting Standards 
No. 123, Accounting for Stock-Based Compensation, or any successor 
standard'' and adding in its place ``FASB ASC Topic 718, Compensation--
Stock Compensation, and FASB ASC Subtopic 505-50, Equity--Equity-Based 
Payments to Non-Employees''.


Sec.  229.302  [Amended]

0
11. In Sec.  229.302:
0
a. Amend paragraph (b) by removing ``paragraphs 9-34 of Statement of 
Financial Accounting Standards (`SFAS') No. 69, `Disclosures about Oil 
and Gas Producing Activities.' If such oil and gas producing activities 
are regarded as significant under one or more of the tests set forth in 
paragraph 8 of SFAS No. 69.'' and adding in its place ``FASB ASC Topic 
932, Extractive Activities--Oil and Gas, if such oil and gas producing 
activities are regarded as significant under one or more of the tests 
set forth in FASB ASC Subtopic 932-235, Extractive Activities--Oil and 
Gas--Notes to Financial Statements, for `Significant Activities.' ''.
0
b. Amend Instruction 1 of the Instructions to paragraph (b) by removing 
``SFAS No. 69'' each time it appears and adding in its place ``FASB ASC 
Subtopic 932-235''.


Sec.  229.303  [Amended]

0
12. In Sec.  229.303:
0
a. Amend paragraph (a)(4)(ii)(A) by removing ``paragraph 3 of FASB 
Interpretation No. 45, Guarantor's Accounting and Disclosure 
Requirements for Guarantees, Including Indirect Guarantees of 
Indebtedness of Others (November 2002) (`FIN 45'), as may be modified 
or supplemented, and that is not excluded from the initial recognition 
and measurement provisions of FIN 45 pursuant to paragraphs 6 or 7 of 
that Interpretation'' and adding in its place ``FASB ASC paragraph 460-
10-15-4 (Guarantees Topic), as may be modified or supplemented, and 
that is not excluded from the initial recognition and measurement 
provisions of FASB ASC paragraphs 460-10-15-7, 460-10-25-1, and 460-10-
30-1''.
0
b. Amend paragraph (a)(4)(ii)(C) by removing ``FASB Statement of 
Financial Accounting Standards No. 133, Accounting for Derivative 
Instruments and Hedging Activities (June 1998), pursuant to paragraph 
11(a) of that Statement'' and adding in its place ``FASB ASC Topic 815, 
Derivatives and Hedging, pursuant to FASB ASC subparagraph 815-10-15-
74(a)''.
0
c. Amend paragraph (a)(4)(ii)(D) by removing ``as referenced in FASB 
Interpretation No. 46, Consolidation of Variable Interest Entities 
(January 2003)'' and adding in its place ``as defined in the FASB ASC 
Master Glossary''.
0
d. Amend paragraph (a)(5)(ii)(A) by removing ``FASB Statement of 
Financial Accounting Standards No. 47 Disclosure of Long-Term 
Obligations (March 1981)'' and adding in its place ``FASB ASC paragraph 
470-10-50-1 (Debt Topic)''.
0
e. Amend paragraph (a)(5)(ii)(B) by removing ``FASB Statement of 
Financial Accounting Standards No. 13 Accounting for Leases (November 
1976)'' and adding in its place ``FASB ASC Topic 840, Leases''.
0
f. Amend paragraph (a)(5)(ii)(C) by removing ``FASB Statement of 
Financial Accounting Standards No. 13 Accounting for Leases (November 
1976)'' and adding in its place ``FASB ASC Topic 840''.
0
g. Amend Instruction 8 of the Instructions to paragraph 303(a) by 
removing ``Statement of Financial Accounting Standards No. 89, 
`Financial Reporting and Changing Prices' '' and adding in its place 
``FASB ASC Topic 255, Changing Prices,''.
0
h. Amend Instruction 9 of the Instructions to paragraph 303(a) by 
removing ``SFAS No. 89, `Financial Reporting and Changing Prices,' '' 
and adding in its place ``FASB ASC Topic 255''.


Sec.  229.305  [Amended]

0
13. In Sec.  229.305:
0
a. Amend Instruction 1.C. of the Instructions to paragraph 305(a) by 
removing ``FASB, Statement of Financial Accounting Standards No. 52, 
`Foreign Currency Translation', (`FAS 52') paragraph 20 (December 
1981)'' and adding in its place ``FASB ASC Master Glossary''.
0
b. Amend Instruction 2.B.vi. of the Instructions to paragraph 305(a) by 
removing ``FAS 52 paragraph 20 (December 1981)'' and adding in its 
place ``FASB ASC paragraph 830-20-35-3 (Foreign Currency Matters 
Topic)''.
0
c. Amend Instruction 2.E. of the Instructions to paragraph 305(a) by 
removing ``(see, e.g., FAS 52 Appendix E for a definition of currency 
swap)''.
0
d. Amend Instruction 3.B. of the Instructions to paragraph 305(a) by 
removing ``FASB, Statement of Financial Accounting Standards No. 5, 
`Accounting for Contingencies,' (`FAS 5') paragraph 3 (March 1975)'' 
and adding in its place ``FASB ASC Master Glossary''.
0
e. Amend Instruction 3.C. of the Instructions to paragraph 305(a) by 
removing ``generally AICPA, Statement of Position 94-6, `Disclosure of 
Certain Significant Risks and Uncertainties,' (`SOP 94-6') at paragraph 
7 (December 30, 1994)'' and adding in its place ``FASB ASC Master 
Glossary''.
0
f. Amend Instruction 3.E. of the Instructions to paragraph 305(a) by 
removing ``FAS 52'' and adding in its place ``FASB ASC Topic 830, 
Foreign Currency Matters''.
0
g. Amend Instruction 4.B. of the Instructions to paragraph 305(a) by 
removing ``FAS 5, paragraph 3 (March

[[Page 50121]]

1975)'' and adding in its place ``FASB ASC Master Glossary''.
0
h. Amend Instruction 4.C. of the Instructions to paragraph 305(a) by 
removing ``generally SOP 94-6, at paragraph 7 (December 30, 1994)'' and 
adding in its place ``FASB ASC Master Glossary''.
0
i. Amend Instruction 4.D. of the Instructions to paragraph 305(a) by 
removing ``FAS 52'' and adding in its place ``FASB ASC Topic 830, 
Foreign Currency Matters''.
0
j. Amend Instruction 3.A. of the General Instructions to paragraphs 
305(a) and 305(b) by removing ``FASB, Statement of Financial Accounting 
Standards No. 119, `Disclosure about Derivative Financial Instruments 
and Fair Value of Financial Instruments,' (`FAS 119') paragraphs 5-7 
(October 1994)'' and adding in its place ``FASB ASC Master Glossary''.
0
k. Amend Instruction 3.B. of the General Instructions to paragraphs 
305(a) and 305(b) by removing ``FASB, Statement of Financial Accounting 
Standards No. 107, `Disclosures about Fair Value of Financial 
Instruments,' (`FAS 107') paragraphs 3 and 8 (December 1991)'' and 
adding in its place ``FASB ASC paragraph 825-10-50-8 (Financial 
Instruments Topic)''.
0
l. Amend Instruction 3.C.ii. of the General Instructions to paragraphs 
305(a) and 305(b) by removing ``FAS 107, paragraph 8 (December 1991)'' 
and adding in its place ``FASB ASC paragraph 825-10-50-8''.
0
m. Amend Instruction 5.C. of the General Instructions to paragraphs 
305(a) and 305(b) by removing ``FASB Interpretation No. 39, `Offsetting 
of Amounts Related to Certain Contracts' (March 1992)'' and adding in 
its place ``FASB ASC Subtopic 210-20, Balance Sheet--Offsetting''.
0
n. Amend Instruction 5.E. of the General Instructions to paragraphs 
305(a) and 305(b) by removing ``generally SOP 94-6, at paragraph 7 
(December 30, 1994)'' and adding in its place ``FASB ASC Master 
Glossary''.
0
o. Amend Instruction 5.F. of the General Instructions to paragraphs 
305(a) and 305(b) by removing ``FAS 5, paragraph 3 (March 1975)'' and 
adding in its place ``FASB ASC Master Glossary''.
0
p. Amend Instruction 7 of the General Instructions to paragraphs 305(a) 
and 305(b) by removing ``has the same meaning as defined by generally 
accepted accounting principles (see, e.g., FAS 119, paragraph 9a 
(October 1994))'' and adding in its place ``means dealing and other 
trading activities measured at fair value with gains and losses 
recognized in earnings'', and by removing ``(see, e.g., FASB, Statement 
of Financial Accounting Standards No. 80, `Accounting for Futures 
Contracts,' paragraph 9, (August 1984))''.


Sec.  229.402  [Amended]

0
14. In Sec.  229.402:
0
a. Amend paragraph (a)(6)(iii) by removing ``Financial Accounting 
Standards Board Statement of Financial Accounting Standards No. 123 
(revised 2004), Share-Based Payment, as modified or supplemented (`FAS 
123R')'' and adding in its place ``FASB ASC Topic 718, Compensation--
Stock Compensation''.
0
b. Amend paragraphs (a)(6)(iv), (c)(2)(ix)(C), (d)(2)(viii), 
(e)(1)(iii), (k)(2)(vii)(C), (m)(5)(iv), (n)(2)(ix)(C), and 
(r)(2)(vii)(C) by removing ``FAS 123R'' each time it appears and adding 
in its place ``FASB ASC Topic 718''.
0
c. Amend the Instruction to Item 402(k)(2)(iii) and (iv) by removing 
``FAS 123R'' and adding in its place ``FASB ASC Topic 718''.
0
d. Amend paragraph (m)(5)(iii) by removing ``Financial Accounting 
Standards Board Statement of Financial Accounting Standards No. 123 
(revised 2004), Share-Based Payment, as modified or supplemented (`FAS 
123R')'' and adding in its place ``FASB ASC Topic 718''.


Sec.  229.503  [Amended]

0
15. In Sec.  229.503 amend paragraph 1.(C) of the Instructions to 
paragraph 503(d) by removing ``SFAS 71'' and adding in its place ``FASB 
ASC Topic 980, Regulated Operations,''.


Sec.  229.601  [Amended]

0
16. In Sec.  229.601 amend paragraph (b)(11) by removing ``on both 
primary and fully diluted basis'' and by removing ``even though the 
amounts of per share earnings on the fully diluted bases are not 
required to be presented in the income statement under the provisions 
of Accounting Principles Board Opinion No. 15. That Opinion provides 
that any reduction of less than 3% need not be considered as dilution 
(see footnote to paragraph 14 of the Opinion) and that a computation on 
the fully diluted basis which results in improvement of earnings per 
share not be taken into account (see paragraph 40 of the Opinion)'' and 
adding in its place ``on both a basic and diluted basis''.


Sec.  229.1204  [Amended]

0
17. In Sec.  229.1204:
0
a. Amend Instruction 4 to Item 1204 by removing ``SFAS 69'' and adding 
in its place ``FASB ASC paragraph 932-235-50-24 (Extractive 
Activities--Oil and Gas Topic)''.
0
b. Amend Instruction 5 to Item 1204 by removing ``SFAS 69'' and adding 
in its place ``FASB ASC Topic 932, Extractive Activities--Oil and 
Gas''.

PART 230--GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 
1933

0
18. The authority citation for Part 230 continues to read in part as 
follows:

    Authority: 15 U.S.C. 77b, 77c, 77d, 77f, 77g, 77h, 77j, 77r, 
77s, 77z-3, 77sss, 78c, 78d, 78j, 78l, 78m, 78n, 78o, 78t, 78w, 
78ll(d), 78mm, 80a-8, 80a-24, 80a-28, 80a-29, 80a-30, and 80a-37, 
unless otherwise noted.
* * * * *


Sec.  230.175  [Amended]

0
19. In Sec.  230.175 amend paragraph (b)(2)(ii) by removing 
``paragraphs 30-34 of Statement of Financial Accounting Standards No. 
69'' and adding in its place ``FASB ASC paragraphs 932-235-50-29 
through 932-235-50-36 (Extractive Activities--Oil and Gas Topic)''.

PART 239--FORMS PRESCRIBED UNDER THE SECURITIES ACT OF 1933

0
20. The authority citation for Part 239 continues to read, in part, as 
follows:

    Authority: 15 U.S.C. 77f, 77g, 77h, 77j, 77s, 77z-2, 77z-3, 
77sss, 78c, 78l, 78m, 78n, 78o(d), 78u-5, 78w(a), 78ll, 78mm, 80a-
2(a), 80a-3, 80a-8, 80a-9, 80a-10, 80a-13, 80a-24, 80a-26, 80a-29, 
80a-30, and 80a-37, unless otherwise noted.
* * * * *

0
21. In Form S-4 (referenced in Sec.  239.25):

    Note: The text of Form S-4 does not, and this amendment will 
not, appear in the Code of Federal Regulations.

0
a. Amend paragraph (b)(3) of Item 10 by removing ``where one or more 
business combinations accounted for by the pooling of interest method 
of accounting have been consummated'' and adding in its place ``where a 
combination under common control has been consummated''.
0
b. Amend paragraph (c)(1)(iii) of Item 12 by removing ``consummation of 
one or more business combinations accounted for by the pooling of 
interest method of accounting'' and adding in its place ``combination 
under common control''.

0
22. In Form 1-A (referenced in Sec.  239.90):

    Note: The text of Form 1-A does not, and this amendment will 
not, appear in the Code of Federal Regulations.

0
a. Amend the INSTRUCTION to the Cover Page for Offering Circular Model 
A by removing ``Statement of Financial

[[Page 50122]]

Accounting Standards No. 7 (June 1, 1975).'' and adding in its place 
``the FASB ASC Master Glossary for a `development stage entity.' ''.
0
b. Amend paragraph (4)(c)(ii) to Part F/S by removing ``pooling of 
interests'' and adding in its place ``combination under common 
control''.

PART 240--GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 
1934

0
23. The authority citation for Part 240 continues to read in part as 
follows:

    Authority: 15 U.S.C. 77c, 77d, 77g, 77j, 77s, 77z-2, 77z-3, 
77eee, 77ggg, 77nnn, 77sss, 77ttt, 78c, 78d, 78e, 78f, 78g, 78i, 
78j, 78j-1, 78k, 78k-1, 78l, 78m, 78n, 78n-1, 78o, 78o-4, 78p, 78q, 
78s, 78u-5, 78w, 78x, 78ll, 78mm, 80a-20, 80a-23, 80a-29, 80a-37, 
80b-3, 80b-4, 80b-11, and 7201 et seq.; 18 U.S.C. 1350; 12 U.S.C. 
5221(e)(3); and 7 U.S.C. 2(c)(2)(E), unless otherwise noted.
* * * * *


Sec.  240.3b-6  [Amended]

0
24. In Sec.  240.3b-6 amend paragraph (b)(2)(ii) by removing 
``paragraphs 30-34 of Statement of Financial Accounting Standards No. 
69'' and adding in its place ``FASB ASC paragraphs 932-235-50-29 
through 932-235-50-36 (Extractive Activities--Oil and Gas Topic)''.


Sec.  240.17h-1T  [Amended]

0
25. In Sec.  240.17h-1T amend paragraph (a)(1)(vii) by removing the 
parenthetical phrase ``(as those terms are used in Statement of 
Financial Accounting Standards No. 105)'' and removing ``(as that term 
is used in Statement of Financial Accounting Standards No. 105)'' and 
adding in its place ``(defined as the possibility that a loss may occur 
from the failure of another party to perform according to the terms of 
a contract)''.

PART 249--FORMS, SECURITIES EXCHANGE ACT OF 1934

0
26. The authority citation for Part 249 continues to read, in part, as 
follows:

    Authority: 15 U.S.C. 78a et seq. and 7201 et seq.; and 18 U.S.C. 
1350, unless otherwise noted.
* * * * *

0
27. In Form 20-F (referenced in Sec.  249.220f):

    Note: The text of Form 20-F does not, and this amendment will 
not, appear in the Code of Federal Regulations.

0
a. Amend paragraph (a) of Item 5.E.2 by removing ``paragraph 3 of FASB 
Interpretation No. 45, Guarantor's Accounting and Disclosure 
Requirements for Guarantees, Including Indirect Guarantees of 
Indebtedness of Others (November 2002) (`FIN 45'), as may be modified 
or supplemented, excluding the types of guarantee contracts described 
in paragraphs 6 and 7 of FIN 45'' and adding in its place ``FASB ASC 
paragraph 460-10-15-4 (Guarantees Topic), as may be modified or 
supplemented, excluding the types of guarantee contracts described in 
FASB ASC paragraphs 460-10-15-7, 460-10-25-1, and 460-10-30-1''.
0
b. Amend paragraph (d) of Item 5.E.2 by removing ``referenced in FASB 
Interpretation No. 46, Consolidation of Variable Interest Entities 
(January 2003)'' and adding in its place ``defined in the FASB ASC 
Master Glossary''.
0
c. Amend Instruction 1.C. of the Instructions to Item 11(a) by removing 
``FASB, Statement of Financial Accounting Standards No. 52, `Foreign 
Currency Translation', (`FAS 52') paragraph 20 (December 1981)'' and 
adding in its place ``FASB ASC Master Glossary''.
0
d. Amend Instruction 2.B.vi. of the Instructions to Item 11(a) by 
removing ``FAS 52 paragraph 20 (December 1981)'' and adding in its 
place ``FASB ASC paragraph 830-20-35-3 (Foreign Currency Matters 
Topic)''.
0
e. Amend Instruction 2.E. of the Instructions to Item 11(a) by removing 
``(see, e.g., FAS 52 Appendix E for a definition of currency swap)''.
0
f. Amend Instruction 3.B. of the Instructions to Item 11(a) by removing 
``FASB, Statement of Financial Accounting Standards No. 5, `Accounting 
for Contingencies, ' (`FAS 5') paragraph 3 (March 1975)'' and adding in 
its place ``FASB ASC Master Glossary''.
0
g. Amend Instruction 3.C. of the Instructions to Item 11(a) by removing 
``generally AICPA, Statement of Position 946, `Disclosure of Certain 
Significant Risks and Uncertainties,' (`SOP 94-6') at paragraph 7 
(December 30, 1994)'' and adding in its place ``FASB ASC Master 
Glossary''.
0
h. Amend Instruction 3.E. of the Instructions to Item 11(a) by removing 
``FAS 52'' and adding in its place ``FASB ASC Topic 830, Foreign 
Currency Matters''.
0
i. Amend Instruction 4.B. of the Instructions to Item 11(a) by removing 
``FAS 5, paragraph 3 (March 1975)'' and adding in its place ``FASB ASC 
Master Glossary''.
0
j. Amend Instruction 4.C. of the Instructions to Item 11(a) by removing 
``generally SOP 94-6, at paragraph 7 (December 30, 1994)'' and adding 
in its place ``FASB ASC Master Glossary''.
0
k. Amend Instruction 4.D. of the Instructions to Item 11(a) by removing 
``FAS 52'' and adding in its place ``FASB ASC Topic 830, Foreign 
Currency Matters''.
0
l. Amend Instruction 3.A. of the General Instructions to Items 11(a) 
and 11(b) by removing ``FASB, Statement of Financial Accounting 
Standards No. 119, `Disclosure about Derivative Financial Instruments 
and Fair Value of Financial Instruments,' (`FAS 119') paragraphs 5-7 
(October 1994)'' and adding in its place ``FASB ASC Master Glossary''.
0
m. Amend Instruction 3.B. of the General Instructions to Items 11(a) 
and 11(b) by removing ``FASB, Statement of Financial Accounting 
Standards No. 107, `Disclosures about Fair Value of Financial 
Instruments,' (`FAS 107') paragraphs 3 and 8 (December 1991)'' and 
adding in its place ``FASB ASC paragraph 825-10-50-8 (Financial 
Instruments Topic)''.
0
n. Amend Instruction 3.C.ii. of the General Instructions to Items 11(a) 
and 11(b) by removing ``FAS 107, paragraph 8 (December 1991)'' and 
adding in its place ``FASB ASC paragraph 825-10-50-8''.
0
o. Amend Instruction 5.C. of the General Instructions to Items 11(a) 
and 11(b) by removing ``FASB Interpretation No. 39, `Offsetting of 
Amounts Related to Certain Contracts' (March 1992)'' and adding in its 
place ``FASB ASC Subtopic 210-20, Balance Sheet--Offsetting''.
0
p. Amend Instruction 5.E. of the General Instructions to Items 11(a) 
and 11(b) by removing ``generally SOP 946, at paragraph 7 (December 30, 
1994)'' and adding in its place ``FASB ASC Master Glossary''.
0
q. Amend Instruction 5.F. of the General Instructions to Items 11(a) 
and 11(b) by removing ``FAS 5, paragraph 3 (March 1975)'' and adding in 
its place ``FASB ASC Master Glossary''.
0
r. Amend Instruction 7 of the General Instructions to Items 11(a) and 
11(b) by removing ``has the same meaning as defined by generally 
accepted accounting principles (see, e.g., FAS 119, paragraph 9a 
(October 1994))'' and adding in its place ``means dealing and other 
trading activities measured at fair value with gains and losses 
recognized in earnings'' and by removing ``(see, e.g., FASB, Statement 
of Financial Accounting Standards No. 80, `Accounting for Futures 
Contracts,' paragraph 9, (August 1984))''.
0
s. Amend Instruction 3 of the Instructions to Item 17 by removing 
``SFAS No. 131'' the first time it appears and adding in its place 
``FASB ASC Topic 280, Segment Reporting'' and by removing ``SFAS No. 
131'' the second time it appears and adding in its place ``FASB ASC 
Topic 280''.

[[Page 50123]]

0
t. Amend paragraph 2 of the Instruction to Item 18 by removing ``FASB 
Statement of Accounting Standards No. 69, `Disclosures about Oil and 
Gas Producing Activities,' '' and adding in its place ``FASB ASC Topic 
932, Extractive Activities--Oil and Gas,''.

0
28. In Form 40-F (referenced in Sec.  249.240f):

    Note:  The text of Form 40-F does not, and this amendment will 
not, appear in the Code of Federal Regulations.

0
a. Amend paragraph (11)(ii)(A) in General Instruction B by removing 
``paragraph 3 of FASB Interpretation No. 45, Guarantor's Accounting and 
Disclosure Requirements for Guarantees, Including Indirect Guarantees 
of Indebtedness of Others (November 2002) (`FIN 45'), as may be 
modified or supplemented, excluding the types of guarantee contracts 
described in paragraphs 6 and 7 of FIN 45'' and adding in its place 
``FASB ASC paragraph 460-10-15-4 (Guarantees Topic), as may be modified 
or supplemented, excluding the types of guarantee contracts described 
in FASB ASC paragraphs 460-10-15-7, 460-10-25-1, and 460-10-30-1''.
0
b. Amend paragraph (11)(ii)(D) in General Instruction B by removing 
``referenced in FASB Interpretation No. 46, Consolidation of Variable 
Interest Entities (January 2003)'' and adding in its place ``defined in 
the FASB ASC Master Glossary''.

0
29. In Form 8-K (referenced in Sec.  249.308):

    Note:  The text of Form 8-K does not, and this amendment will 
not, appear in the Code of Federal Regulations.

0
a. Amend paragraph (e) of Item 2.03 by removing ``Accounting Research 
Bulletin No. 43, Chapter 3A, Working Capital'' and adding in its place 
``FASB ASC paragraph 210-10-45-3 (Balance Sheet Topic)''.
0
b. Amend paragraph (c) of Item 2.04 by removing ``FASB Statement of 
Financial Accounting Standards No. 5 Accounting for Contingencies (SFAS 
No. 5)'' and adding in its place ``FASB ASC Section 450-20-25, 
Contingencies--Loss Contingencies--Recognition,''.
0
c. Amend Instruction 4 of Item 2.04 by removing ``SFAS No. 5'' and 
adding in its place ``FASB ASC Section 450-20-25''.
0
d. Amend the first paragraph of Item 2.05 by removing ``paragraph 8 of 
FASB Statement of Financial Accounting Standards No. 146 Accounting for 
Costs Associated with Exit or Disposal Activities (SFAS No. 146)'' and 
adding in its place ``FASB ASC paragraph 420-10-25-4 (Exit or Disposal 
Cost Obligations Topic)''.
0
e. Amend paragraph (a) of Item 4.02 by removing ``Accounting Principles 
Board Opinion No. 20'' and adding in its place ``FASB ASC Topic 250, 
Accounting Changes and Error Corrections''.
0
30. In Form 17-H (referenced in Sec.  249.328T) amend Item II.K. of 
Part II by removing ``as defined in Statement of Financial Accounting 
Standards No. 105''.

    Note:  The text of Form 17-H does not, and this amendment will 
not, appear in the Code of Federal Regulations.

PART 270--RULES AND REGULATIONS, INVESTMENT COMPANY ACT OF 1940

0
31. The authority citation for Part 270 continues to read in part as 
follows:

    Authority:  15 U.S.C. 80a-1 et seq., 80a-34(d), 80a-37, and 80a-
39, unless otherwise noted.
* * * * *


Sec.  270.3a-8  [Amended]

0
32. Amend paragraph (b)(9) of Sec.  270.3a-8 by removing ``expenses as 
defined in FASB Statement of Financial Accounting Standards No. 2, 
Accounting for Research and Development Costs'' and adding in its place 
``costs as defined in FASB ASC Topic 730, Research and Development''.

PART 274--FORMS PRESCRIBED UNDER THE INVESTMENT COMPANY ACT OF 1940

0
33. The authority citation for Part 274 continues to read, in part, as 
follows:

    Authority:  15 U.S.C. 77f, 77g, 77h, 77j, 77s, 78c(b), 78l, 78m, 
78n, 78o(d), 80a-8, 80a-24, 80a-26, and 80a-29, unless otherwise 
noted.
* * * * *

0
34. In Form N-1A (referenced in Sec. Sec.  239.15A and 274.11A):

    Note:  The text of Form N-1A does not, and this amendment will 
not, appear in the Code of Federal Regulations.

0
a. Amend Instruction 3(c)(ii) of the Instructions to Item 3 by removing 
``Accounting Principles Board Opinion No. 30'' and adding in its place 
``FASB ASC Subtopic 225-20, Income Statement--Extraordinary and Unusual 
Items''.
0
b. Amend Instruction 2(a)(ii) of the Instructions to paragraph (d)(1) 
of Item 27 by removing ``Accounting Principles Board Opinion No. 30'' 
and adding in its place ``FASB ASC Subtopic 225-20, Income Statement--
Extraordinary and Unusual Items''.

0
35. In Form N-3 (referenced in Sec. Sec.  239.17a and 274.11b) amend 
Instruction 15(a) of the General Instructions to paragraph (a) of Item 
3 by removing ``Accounting Principles Board Opinion No. 30'' and adding 
in its place ``FASB ASC Subtopic 225-20, Income Statement--
Extraordinary and Unusual Items''.

    Note:  The text of Form N-3 does not, and this amendment will 
not, appear in the Code of Federal Regulations.


0
36. In Form N-4 (referenced in Sec. Sec.  239.17b and 274.11c) amend 
Instruction 17.(b) of the General Instructions to paragraph (a) of Item 
3 by removing ``Accounting Principles Board Opinion No. 30'' and adding 
in its place ``FASB ASC Subtopic 225-20, Income Statement--
Extraordinary and Unusual Items''.

    Note:  The text of Form N-4 does not, and this amendment will 
not, appear in the Code of Federal Regulations.


0
37. In Form N-6 (referenced in Sec. Sec.  239.17c and 274.11d) amend 
Instruction 4(c) of the Instructions to Item 3 by removing ``Accounting 
Principles Board Opinion No. 30'' and adding in its place ``FASB ASC 
Subtopic 225-20, Income Statement--Extraordinary and Unusual Items''.

    Note:  The text of Form N-6 does not, and this amendment will 
not, appear in the Code of Federal Regulations.


    Dated: August 8, 2011.

    By the Commission.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-20413 Filed 8-11-11; 8:45 am]
BILLING CODE 8011-01-P