Stay up-to-date with the latest developments in securities law through access to both news and all statutes and regulations. Find relevant corporate filings through a searchable EDGAR database. And...
April 13 — The Securities and Exchange Commission formally asked for input April 13 on its company disclosure regulations, part of its overall plan to review and update its disclosure regime.
The three-member commission unanimously approved the request for public comment on Regulation S-K, which provides the framework for such disclosures as annual reports, registration statements and tender offers.
“The concept release takes a broad, step-back look at how we can make our disclosure regime better and more useful in 2016 and beyond,” SEC Chairman Mary Jo White said at an open meeting.
Reg-S-K is a companion to Regulation S-X, which governs company financial statements. The agency sought comment on Reg S-X in October (187 SLD, 9/28/15).
The commission specifically invited feedback on potential policy-driven and industry-specific disclosures, as well as both line-item and principles-based requirements.
The agency's concept release covers all areas of the Reg S-K regime. The comment period is 90 days.
The agency also recognized the public appetite for disclosure as a means to advance public policy.
“We are interested in receiving feedback on the importance of sustainability and public policy matters to informed investment and voting decisions,” the release said.
Commissioner Michael Piwowar warned that commenters, when advocating for certain disclosures, shouldn't confuse information that is material to shareholders with information that might merely be useful.
“This is an objective legal standard, not a subjective political one,” he said. “While certain shareholders may have their own particular pet interests, the reasonable investor standard prevents an individual investor from hijacking corporate resources to serve their own specific agenda.”
To contact the reporter on this story: Rob Tricchinelli in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Phyllis Diamond at email@example.com
For the concept release, visit https://www.sec.gov/rules/concept/2016/33-10064.pdf
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)