Nov 23, 2016

On November 23, 2016, the U.S. Securities and Exchange Commission (SEC) issued “Report on Modernization and Simplification of Regulation S-K.” The report is being issued in response to a mandate in Section 72003 of the Fixing America’s Surface Transportation Act, which requires the report to include: (i) all findings and determinations made in carrying out the study; (ii) specific and detailed recommendations on modernizing and simplifying the requirements in Regulation S–K in a manner that reduces the costs and burdens on companies while still providing all material information; and (iii) specific and detailed recommendations on ways to improve the readability and navigability of disclosure documents and to discourage repetition and the disclosure of immaterial information.