The Use of Subsets in a Financial Performance Representation in your Franchise Disclosure Document

The Use of Subsets in a Financial Performance Representation in your Franchise Disclosure Document

As most in the franchise community are likely aware, on October 1, 2015, the North American Securities Administrators Association’s Franchise and Business Opportunity Project Group (NASAA) released for internal and public comment a proposed franchise commentary on financial performance representations (the “FPR Commentary”).  And, although the public comment period has since ended, members of the NASAA committee have recently revealed that the FPR Commentary will be revised and open for

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