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SEC proposes to simplify disclosure requirements

Jaclyn Jaeger | July 15, 2016

The SEC this week voted to propose amendments to eliminate redundant, overlapping, outdated, or superseded provisions, in light of subsequent changes to disclosure rules, accounting principles, and technology. The SEC is also soliciting comment on certain disclosure requirements that overlap with U.S. GAAP to determine whether to retain, modify, eliminate or refer them to the Financial Accounting Standards Board (FASB) for potential incorporation into U.S. GAAP.

The proposing release is part of the disclosure effectiveness review, which is a broad-based staff review of the requirements, and the presentation and delivery of disclosures that companies make to investors. The proposal is also part of the SEC’s work to implement the Fixing America’s Surface Transportation (FAST Act), which, among other things, requires the Commission to eliminate provisions of Regulation S-K...

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