Robert Pozen, chairman of MFS Investment Management and a long-time player on the financial and regulator scenes, has always been a critic of complexity in financial reporting. Now, as chairman of the Securities and Exchange Commission committee trying to reduce that complexity, his job is nearly done.

Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...