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ARTICLE · 24 SEPTEMBER 2019

SEC Looks To Modernize Disclosure Approach

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On August 8, 2019, the SEC announced that it voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that public companies are required to make ...

United StatesCorporate/Commercial Law
Justin S. Anslow
Justin S. Anslow
Alexander Yarbrough
Alexander Yarbrough
Jeffrey J. Fessler
Jeffrey J. Fessler
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On August 8, 2019, the Securities and Exchange Commission (the "SEC") announced that it voted to propose rule amendments to modernize the description of business, legal proceedings, and risk factor disclosures that public companies are required to make pursuant to Regulation S-K under the Securities Act of 1933 and the Securities Exchange Act of 1934.

The SEC stated that it believes these rule amendments, if implemented, would emphasize a less rigid and a more "principles-based" disclosure approach for registrants. Importantly, these proposed amendments are intended to update the SEC's rules to account for developments since the last significant revision more than 30 years ago.

The proposed amendments are highlighted below:

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