SEC Adopts Amendments To Implement Fast Act Disclosure Modernization And Simplification

On March 20, 2019, the Securities and Exchange Commission (the SEC) voted to adopt amendments to modernize and simplify disclosure requirements for public companies, investment advisers and investment companies. These amendments are expected to benefit investors by eliminating outdated and unnecessary disclosure and making it easier for them to access and analyze material information. Among other things, the amendments simplify disclosure or the disclosure process, including through changes that would allow registrants to omit confidential information from most exhibits without filing a confidential treatment request, and changes to Management's Discussion and Analysis that allow for flexibility in discussing historical periods; revise rules or forms to update, streamline or otherwise improve the SEC's disclosure framework by eliminating the risk factor examples listed in the disclosure requirement and revising the description of property requirement to emphasize the