The Securities and Exchange Commission (SEC or Commission), on
March 20, 2019, voted to adopt amendments to modernize and simplify
certain disclosure requirements in Regulation S-K and related rules
and forms. The amendments are intended to reduce the costs and
burdens on registrants, improve the readability and navigability of
disclosure documents and discourage repetition and disclosure of
immaterial information. The SEC is also adopting parallel
amendments applicable to investment companies and investment
advisers in order to provide a consistent set of rules to govern
incorporation by reference and hyperlinking.
The amendments relating to the redaction of confidential
information in certain exhibits became effective on April 2, 2019.
The remainder of the amendments will be effective on May 2, 2019,
except that the requirements to tag data on the cover pages of
certain filings are subject to a three-year phase-in, and the
requirement that certain investment company
