Not exact matches
ASC 820 «
Fair Value Measurements and Disclosures» defines fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability (i.e., the «exit price») in an orderly transaction between market participants at the measurement date and establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.&ra
Fair Value Measurements and
Disclosures» defines
fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability (i.e., the «exit price») in an orderly transaction between market participants at the measurement date and establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.&ra
fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability (i.e., the «exit price») in an orderly transaction
between market participants at the measurement date and establishes a hierarchy for inputs used in measuring
fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.&ra
fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available.»
The purpose behind these guidelines is to promote (i) honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest
between personal and professional relationships; (ii) full,
fair, accurate, timely, and understandable
disclosure in reports and documents that the Trust files with, or submits to, the SEC and in other public communications made by the Funds; (iii) compliance with applicable governmental laws, rule and regulations; (iv) the prompt internal reporting of violations of the Trust Code to an appropriate person or persons identified in the Trust Code; and (v) accountability for adherence to the Trust Code.
In that regard, the second paragraph of Article 100 (2) of the Financial Regulation [or the equivalent Article 41 (3) Directive 2004/18] deserve more attention, as regards the caveat that some information may (rectius, should) not be disclosed if such
disclosure might prejudice
fair competition
between economic operators.
However, certain details need not be disclosed where
disclosure would hinder application of the law, would be contrary to the public interest or would harm the legitimate business interests of public or private undertakings or could distort
fair competition
between those undertakings.
In my second post, I argued that a litigation finance contract arguably implicates the securities laws» interest in full and
fair disclosure because of information asymmetry
between the funder and the claimant.