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SEC reshapes Regulation S-K disclosures, marches forward on LEIs

Joe Mont | October 13, 2017

The Securities and Exchange Commission has proposed a plan intended to reduce disclosure obligations and their inherent compliance burden, for public companies.

The rule amendments proposed on Oct. 11 would “modernize and simplify” disclosure requirements for public companies, investment advisers, and investment companies and to implement a mandate under the Fixing America's Surface Transportation (FAST) Act.

Companies would be able to omit certain references to risk factors and incorporate online references in disclosures offered to investors.

The proposal reflects changes based on recommendations in the staff's FAST Act Report and amendments developed as part of a broader review of the Commission's disclosure system.

The FAST Act, enacted in 2015, directs the Commission to issue a report providing specific and...

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