SEC Modernizes And Simplifies Disclosure Requirements

On March 20, 2019, the U.S. Securities and Exchange Commission (SEC) announced it had adopted a series of amendments to improve the readability and navigability of company disclosures, and to discourage the disclosure of immaterial or repetitive information. The amendments reflect the SEC's ongoing efforts to modernize and streamline public company disclosure, as required by Section 72003 of the Fixing America's Surface Transportation Act and reflected in the SEC's concept release regarding Business and Financial Disclosure Required by Regulation S-K.

While many of the amendments address technical issues in the disclosure process, they are likely to reduce the reporting costs of registrants by clarifying the requirements and eliminating certain redundant disclosures.