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SEC proposes disclosure-related updates and simplification

  • IFRS - SEC Image

Jul 13, 2016

On July 13, 2016, the US Securities and Exchange Commission (SEC) has issued a pro-posed rule, “Disclosure Update and Simplification.” This pro­posed rule would “elim­i­nate re­dun­dant, over­lap­ping, out­dated, or su­per­seded pro­vi­sions, in light of sub­se­quent changes to Com­mis­sion dis­clo­sure re­quire­ments, U.S. Gen­er­ally Ac­cepted Ac­count­ing Prin­ci­ples (U.S. GAAP), In­ter­na­tional Fi­nan­cial Re­port­ing Stan­dards (IFRS), and tech­nol­ogy.”

The Commission is issuing this proposal as part of its overall efforts to improve disclosure effectiveness as well as to implement certain provisions of the Fixing America’s Surface Transportation Act. Comments are due 60 days after the date of the proposal’s publication in the Federal Register.

For more information, see Deloitte's related Heads Up newsletter as well as the SEC’s press release and proposed rule on the SEC’s Web site.

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Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.