SEC Proposes Amendments To Modernize Disclosure Requirements

The Securities and Exchange Commission has proposed amendments to the business description, legal proceedings and risk factor disclosures required by registered companies in annual and quarterly reports and registration statements. The proposal is meant to modernize disclosure requirements, including by eliminating certain duplicative disclosure requirements and improving the usability of filings for investors. If adopted, the proposed amendments could reduce the amount of repetitive or non-material disclosure in SEC filings, but in some instances, registrants may be required to add disclosure to their SEC filings.

The SEC is currently taking comments on the proposed amendments, which are due on October 22, 2019.