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ARTICLE · 25 NOVEMBER 2020

Division Director Hinman On Principles-Based Disclosures

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Speaking in connection with the Practising Law Institute's (PLI) Directors' Institute on Corporate Governance, Securities and Exchange Commission Division of Corporation Finance Director...

United StatesCoronavirus (COVID-19)
Anna T. Pinedo
Anna T. Pinedo
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Speaking in connection with the Practising Law Institute's (PLI) Directors' Institute on Corporate Governance, Securities and Exchange Commission Division of Corporation Finance Director, William Hinman, shared his views on a principles-based approach to disclosure requirements and to rulemaking.  His remarks, which when read along with  those of Chair Jay Clayton at the Economic Club and with  Chair Clayton's testimony to the Senate, provide a summation of the work of the SEC during the last few years.

Perhaps in anticipation of greater expected focus in the years to come on climate change disclosures, human capital disclosures and other ESG-related topics, Director Hinman noted that, the SEC's "disclosure requirements emphasize materiality and are intended to provide investors with the information they need to make informed investment and voting decisions."  While noting that there are certain line item or prescriptive requirements, Director Hinman emphasized that

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