By Rodney F. Tonkovic, J.D. The SEC has adopted amendments to simplify and modernize disclosure requirements. The amendments, mandated by the 2015 Fixing America's Surface Transportation (FAST) Act modernize and simplify certain disclosure requirements under Regulation S-K, as well as related rules and forms, to reduce costs and burdens, improve readability and navigability, and to provide consistent rules for incorporation by reference and hyperlinking. Highlights include amendments to the Management's Discussion & Analysis and to the confidential treatment process for commercially sensitive information (FAST Act Modernization and Simplification of Regulation S-K, Release No. 33-10618, March 20, 2019). Proposal based on FAST Act report. In October 2017, the Commission proposed amendments to modernize and simplify disclosure requirements in Regulation S-K and related rules and forms, five as required by Section 72003 of the FAST Act. The proposal itself was based…
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