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The Act is entirely voluntary, applying only to those Delaware-law governed entities that seek to become certified as reporting entities.
Nevertheless, the Act specifically provides that reporting entities are not required to include any privileged information, trade secrets or competitively sensitive information in their reports.
"During consultations with Austrac, reporting entities highlighted the difficulties in identifying the source of funds and wealth for customers on significant investment visas, as this wealth is often acquired in foreign jurisdictions.
"If other companies used Fannie Mae's logic in applying accounting principles, they could dictate the financial results they desired, and there would be no comparability of financial results between reporting entities even within the same industry," the report said in one passage.
Result: Those three reporting entities will shrink to two.
Standard & Poor's Equity Research maintained a "hold" rating on GE shares on June 23, saying the company's decision to further consolidate its reporting entities remains a strange choice.
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At this point, unless you're completely illiterate (and even then that's questionable), virtually every citizen in the United States has heard about the credit reporting entity Equifax and its massive cybersecurity breach that exposed hundreds of millions of records.
For large companies like Amazon, eBay (EBAY), Overstock (OSTK) and Groupon (GRPN), EITF 99-19 provides the reporting entity with eight (8) guidelines to consider in determining whether revenue should be calculated reported as 'gross' and three (3) guidelines as to whether it should be treated as 'net'net
For large companies like Amazon, Google (GOOG), Facebook (FB), eBay (EBAY), and Groupon (GRPN), EITF 99-19 provides the reporting entity with eight (8) guidelines to consider in determining whether revenue should be calculated reported as 'gross' and three (3) guidelines as to whether it should be treated as 'net'net
3. A trade repository shall calculate the positions by class of derivatives and by reporting entity based on the details of the derivative contracts reported in accordance with Article 6. 4. A trade repository shall allow the parties to a contract to access and correct the information on that contract at all times.
The 2004 WHO classification of renal tumours in adults includes newly reported entities [ 2] and links the classical histological findings of these neoplasms to a wide spectrum of genetic abnormalities [ 3] still not fully defined.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com