SEC Proposes Amendments To Update And Simplify Certain Disclosure Requirements

On July 13, 2016, the U.S. Securities and Exchange Commission (SEC) proposed amendments designed to update and simplify certain disclosure requirements that may have become redundant, duplicative, overlapping, outdated or superseded as a result of updates to other SEC disclosure requirements, U.S. Generally Accepted Accounting Principles (U.S. GAAP), International Financial Reporting Standards (IFRS) or changes in the information environment. The proposal is part of the Division of Corporate Finance’s disclosure effectiveness initiative and part of the SEC’s efforts to implement disclosure requirement updates pursuant to the FAST Act (Pub. L. No. 114-94). The proposal is intended to facilitate the disclosure of information to investors, while simplifying compliance efforts, without significantly altering the total mix of information provided to investors.