The SEC is proposing amendments to create modifications in disclosure requirements in order to ease the burden on public companies and others while retaining sufficient publicly disclosed information. The rule would apply to companies that are subject to the Securities Exchange Act of 1934. Some examples of the modifications include modifications to overlapping requirements, modifications to outdated requirements, superseded requirements, etc.
Key Takeaways:
- On July 13, 2016, the Securities and Exchange Commission (the “SEC”) announced proposed amendments in order to update and simply its disclosure requirements.
- The Proposed Rule is part of the SEC’s efforts to implement the Fixing America’s Surface Transportation (FAST) Act which requires the SEC to eliminate duplicative or unnecessary provisions of Regulation S-K.
- The Proposed Rule discusses 15 categories of redundant or duplicative requirements, 38 categories of overlapping requirements, six categories of outdated requirements, and 16 categories of superseded requirements.
“On July 13, 2016, the Securities and Exchange Commission (the “SEC”) announced proposed amendments in order to update and simply its disclosure requirements.”
