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July 15 — In the SEC’s latest effort to revamp its disclosure regime, it has taken the unusual step of offering the public a section-by-section comparison of what the proposed rule changes would look like.
The agency's “demonstration version” comprises nearly 200 pages of proposed additions and deletions to its disclosure rules, including Regulations S-K and S-X.
The Securities and Exchange Commission proposed changes and sought feedback on others July 13, to eliminate redundant and obsolete disclosure requirements as part of its review of the effectiveness of the overall set of regulations.
The sprawling release includes agency-suggested deletions across many subject areas, such as interim financial statements, equity compensation plans, dividends and derivative policies.
Further changes were proposed to income tax disclosures, real estate investment trust filings, cash flow statements, and auditing standards, among many others.
The agency also proposed that some definitions be referred to the Financial Accounting Standards Board to be potentially included in U.S. generally accepted accounting principles.
The comment period is 60 days.
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For the comparison, visit https://www.sec.gov/rules/proposed/2016/33-10110-demonstration.pdf
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