Another Wave Of Disclosure Simplification Rules Adopted By The SEC

On August 17, 2018, the Securities and Exchange Commission (SEC) announced the adoption of amendments to simplify and update disclosure requirements.¹ Although the amendments are voluminous in length and breadth of provisions impacted, many of the changes are ministerial and are not expected to have a significant impact on the information that companies disclose or the time and cost associated with preparing periodic disclosures. The SEC adopted these changes to implement the Fixing America's Surface Transportation (FAST) Act² and in furtherance of its objective³ to reform duplicative, overlapping or outdated disclosure in light of other SEC disclosure requirements, U.S. Generally Accepted Accounting Principles (GAAP) or changes in the information environment.