The Securities and Exchange Commission (SEC) has voted to adopt amendments to certain disclosure requirements that have become duplicated, overlapping or outdated. This is compared to other Commission disclosure requirements, U.S Generally Accepted Accounting Principles (GAAP), or changes in the environment.
SEC’s chairman Jay Clayton said: “It is important to review our regulations to ensure that they evolve along with our capital markets and remain effective and efficient. Today’s amendments are an example of how thoughtful reviews can prompt changes for the benefit of investors, public companies and our capital markets.”
The SEC is also referring certain disclosure requirements that overlap with, but require information incremental to the Financial Accounting Standards Board (FASB) for consideration potential incorporation into GAAP.
The Amendments
The amendments derive as part of an initiative from the Division of Corporation Finance to review the disclosure requirements applicable to issuers to consider ways to improve the requirements for the benefit of investors and issuers.
As part of the SEC’s efforts to implement the Fixing America’s Surface Transportation (FAST) act, the amendments requires the commission to eliminate provisions of Regulation S-K that are duplicative, overlapping, outdated or even unnecessary

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By GlobalDataIt will also aim to simplify and update the disclosure of information to investors, including long-term main street investors. It will also reduce compliance burdens for companies without significantly altering the total mix of information available to investors.
The amendments will be effective 30 days from publication in the Federal Register.
Highlights of the Amendments
Public reporting companies including foreign issuers are the ones primarily affected by the amendments.
Some of the amendments will also apply to other entities which the SEC regulate, this includes; Regulation A issuers, investment advisers, investment companies, broker-dealers and nationally recognised statistical rating organisations.
By Mishelle Thurai