The SEC has adopted amendments (Amendments) to certain of its
regulations, rules and forms to modernize and simplify certain
disclosure requirements as mandated by the 2015 Fixing
America's Surface Transportation Act (FAST Act). The most
significant changes are described below.
S-K Item 303 - MD+A
Previously, the instructions to Item 303(a) specified that MD+A
should generally cover the three-year period covered by the
financial statements, and that reference to the five-year selected
financial data may be necessary where trend information is
relevant. The Amendments permit registrants to omit discussion of
the earliest of the three years if, in management's view, that
discussion is not necessary to understand the company's
financial condition, changes in financial condition, and results of
operations, and (as would generally be the case for all but new
registrants), that year was discussed in a prior EDGAR filing, and
the location in such prior filing is
