More On The SEC’s Regulation S-K Study

The SEC Staff's recently released Report on Review of Disclosure Requirements in Regulation S-K, which was required by Section 108 of the JOBS Act,  provides a starting point for revisiting broader issues regarding SEC disclosure.  While the JOBS Act mandated that the study review Regulation S-K in the context of the new class of issuers referred to in the JOBS Act as "emerging growth companies," the Staff decided to look more broadly at the background of the development of disclosure requirements and potential recommendations for revisiting disclosure requirements in a broad manner.

The Staff reviewed, among other things, Regulation S-K, Commission releases and comment letters on Commission regulatory actions pertaining to Regulation S-K. The Staff also reviewed public comments that were submitted regarding Section 108 of the JOBS Act. In light of the focus of the mandate in Section 108 of the JOBS Act, the Staff did not review two subparts of Regulation S-K —