On October 4, 2018, the Securities and Exchange Commission published its Disclosure Update and Simplification Release,1 which contained final rules amending disclosure requirements that the Commission deemed “redundant, duplicative, overlapping, outdated, or superseded.” These rule changes affect both the information public reporting companies must report and how they do so in filings with the Commission. The new rules became effective November 5, 2018.
To assist public reporting companies in addressing the new rules when preparing annual reports on Form 10-K, Pepper Hamilton has summarized the Regulation S-K changes implemented by these rules in two tables. The abridged table (available here) provides a brief summary of how the rules impact each Form 10-K item. The full table (available here) contains a brief summary as well as a redline version of the relevant Regulation S-K item changed by the rules. The tables do not cover any changes to Regulation S-X, which governs financial statement requirements.
If you would like to discuss how these rule changes impact your company’s SEC disclosure requirements, please contact any member of Pepper Hamilton’s Corporate and Securities Practice Group.
1 Release No. 33-10532, 34-83875, 83 Fed. Reg. 50148 (Oct. 4, 2018).
The material in this publication was created as of the date set forth above and is based on laws, court decisions, administrative rulings and congressional materials that existed at that time, and should not be construed as legal advice or legal opinions on specific facts. The information in this publication is not intended to create, and the transmission and receipt of it does not constitute, a lawyer-client relationship.