United States

SEC Proposes Rules to Update and Simplify Disclosure Requirements

Jul 18, 2016
From the Financial Reporting Network

As part of its disclosure effectiveness efforts, the SEC recently proposed rules to eliminate redundant, overlapping, outdated, or superseded disclosure requirements. The proposed changes are in response to changes over time to SEC disclosure requirements, U.S. GAAP, IFRS, and technology.

The SEC also is soliciting comment on certain disclosure requirements that overlap with U.S. GAAP to determine whether to retain, modify, eliminate, or refer those disclosure requirements to the FASB for the Board to consider incorporating them into U.S. GAAP.

Comments are due 60 days after the proposed rule is published in the Federal Register.

Read SEC Press Release