Today, the Federal Trade Commission (the “Commission”) announced an amendment to its “Disclosure Requirements and Prohibitions Concerning Franchising” (16 C.F.R. Part 436) (the “Franchise Rule”) revising the monetary limits for three of the listed exemptions.
Category: Regulatory Compliance
Indiana Extends Registration Periods For Some Franchisors
Indiana announced that it would extend the registration periods for franchisors that are currently set to expire between March 16, 2020 and May 31, 2020.
FASB Extends Implementation of ASC 606 for Franchisors
The Financial Accounting Standards Board (“FASB”) unanimously voted today to propose delaying the effective date for its Accounting Standards Codification® Topic 606 (“ASC 606”), Revenue From Contracts With Customers, for franchisors that are not public business entities.
Washington Updates Franchise Registration Requirements
The Washington Department of Financial Institutions recently updated its filing requirements for franchisors.
Virginia Further Extends Franchise Renewal Period
On April 2, 2020, the Virginia State Corporation Commission (“SCC”) further extended the deadlines for franchisors to submit applications to renew their existing franchise registrations in response to the COVID-19 pandemic.
Indiana Franchise Registration Update
Indiana is the latest franchise registration state to address the COVID-19 crisis.